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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