ASTANA, Kazakhstan, December 15. KazMunayGas
(KMG) and Geoenergija Razvoj, a subsidiary of Croatian Hydrocarbon
Agency (CHA), are finalizing key documentation, including joint
activity and financing agreements on the Shygys geological
exploration project located in Kazakhstan’s Aktobe Region, Trend reports via KMG.
The issue was discussed during a meeting in Astana between KMG
Management Board Chairman Askhat Khasenov and CHA Head Marijan
Krpan.
CHA expressed a keen interest in Shygys subsequent to their
experts conducting a thorough analysis of the geological data
disseminated by KMG during its international roadshow, coupled with
an autonomous assessment of the site's prospective viability. In
the context of the partner selection framework, Geoenergija Razvoj
has submitted an application to engage in the project
initiative.
Concurrently, KMG indicated that it is persistently engaging in
the re-evaluation of legacy 2D seismic datasets as an integral
component of subsurface analysis within the framework of the Shygys
initiative.
KMG has initiated a quest for a synergistic collaborator to
co-execute the Shygys initiative, slated for rollout in October
2025.
The Shygys geological exploration project, initiated by
Kazakhstan's national oil and gas company KazMunayGas (KMG), aims
to explore hydrocarbon resources in the Aktobe region. Covering
2,415 square kilometers, it seeks to enhance the country's
hydrocarbon reserves and production potential.
Geoenergija Razvoj d.o.o., a subsidiary of the Croatian
Hydrocarbon Agency, aims to enhance Croatia's energy security by
pursuing energy projects that domestic resources cannot support. It
focuses on international investments, particularly in oil and gas
exploration in Kazakhstan, and oversees sustainable energy
transition projects, including carbon capture and storage and
hydrogen initiatives. The company targets areas with limited
private market involvement, serving as the operational and
commercial arm of the state to diversify the national energy mix
and increase energy independence.
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