ASTANA, Kazakhstan, April 2. Kazakhstan has
officially partnered with a Croatian energy firm to launch a new
hydrocarbon exploration and production project in the Aktobe
region, Trend
reports, citing the Ministry of Energy.
The agreement was finalized between the Ministry of Energy,
National Company KazMunayGas (KMG), and GEOENERGIJA RAZVOJ d.o.o.,
a subsidiary of the Croatian Hydrocarbon Agency.
Signed on the sidelines of the Geoscience & Exploration Central
Asia forum in Astana, the "Shygys" project will operate on a 50/50
joint venture basis between the Kazakh and Croatian parties.
Under the terms of the contract, the Croatian side has committed
to fully financing the initial exploration phase. The minimum work
program established for the Shygys block includes the conduct of
500 kilometers of 2D seismic surveys and the drilling of an
exploration well to a target depth of 3,500 meters.
Stay up-to-date with more news on Trend News
Agency's WhatsApp channel
