ASTANA, Kazakhstan, April 2. Kazakhstan’s
national oil and gas company, JSC NC KazMunayGas (KMG), and bp
Exploration Operating Company Limited have signed a Memorandum of
Intent to jointly explore the Ustyurt block in the Mangystau
region, Trend reports
via KMG.
The memorandum is based on the agreement that was finalized
during the "Geoscience & Exploration Central Asia" International
Geological Forum in Astana.
The collaboration focuses specifically on the geological study
and potential development of the Ustyurt block, a promising
frontier for Kazakhstan’s onshore resource expansion. This
signifies bp's possible resurgence in Kazakhstan's upstream domain
following a 17-year hiatus.
The Ustyurt block is located in the Mangystau region of
southwestern Kazakhstan, an area long considered prospective for
hydrocarbons but relatively underexplored compared to major fields
like Tengiz or Kashagan.
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