ASHGABAT, Turkmenistan, October 10. Kazakhstan's KazMunayGas JSC (KMG) and Turkmenistan's Turkmennebit state concern, the national operators of the oil and gas, have signed a memorandum of cooperation, marking a significant step in enhancing collaboration between the two countries, Trend reports via KMG.
According to information, the memorandum, signed by Chairman of the Management Board of KMG Askhat Khassenov, and Guvanch Agajanov, Chairman of the Board of Turkmennebit, is designed to expand partnerships within the oil and gas sector, opening new avenues for cooperation.
The agreement lays the groundwork for a commitment to dive into and roll out promising projects aimed at tapping into, developing, and bringing to fruition hydrocarbon resources in the Turkmen sector of the Caspian Sea.
Furthermore, a key goal is to make the most of offshore drilling rigs and to swap cutting-edge technologies and know-how to boost production efficiency.
Earlier, KMG's subsidiary, KMG Drilling & Services LLP, established a contract with Dragon Oil Turkmenistan Ltd. for drilling services in the Turkmen sector of the Caspian Sea. As part of this agreement, Kazakhstan’s Satti jack-up floating drilling rig (FDD) will be deployed in the Cheleken field.
The signing of the memorandum took place during President Kassym-Jomart Tokayev's official visit to Turkmenistan.