Kazakhstan, Astana, Aug. 25 /Trend, A.Maratov/
Drilling of the first well in Zhambyl block in Kazakh section of the Caspian shelf will begin in the second half of 2012, Chairman of the Board of KazMunaiGas Kairgeldy Kabyldin told reporters after signing an agreement with Korean KC Kazakh BV Consortium - participant of Caspian oil project
Nine agreements were signed as part of Kazakh-Korean business forum held in Astana, one of which is called the "Agreement on joint ownership and operation of the rig".
"The agreement deals with the Zhambyl block and was drawn up under the previously signed agreement with the Korean oil consortium for the development of the block," said Kabyldin.
Zhambyl block is located in shallow water and its development requires a special drilling rig, which KC Kazakh BV assumed to build, he said.
"Today, the assembly of this specialized rig, which can operate in shallow water in the environmentally sensitive Caspian Sea, is carried out at the shipyard in Romania," said the head of KMG.
This rig will be transported and installed in the Caspian Sea in the spring of next year. Its value is $120 million, Kabyldin said. Korean side assumes the construction and financing.
After drilling the wells on the Zhambyl block, there are plans to develop the second well in Zhetysu block, said Kabyldin.