Baku, Azerbaijan, July 29
By Nargiz Sadikhova - Trend:
Kazakhstan’s national oil and gas company KazMunayGas, Italian Eni company and the Ministry of Energy of Kazakhstan signed a contract on exploration and extraction of hydrocarbon raw materials from the Abay field, Trend reports with reference to press office of KazMunayGas.
“In accordance to the signed contract, the main minimal obligations of the companies are the drilling of one exploration well and holding of 3D seismic exploration work on the Abay field in the Kazakhstan’s sector of Caspian Sea,” the report said.
In the beginning of July 2019, the companies and the ministry signed agreement on the payment of signing bonus in Kazakhstan’s favor and protocol on providing the right for development and extraction of hydrocarbons.
KazMunayGas, the state-owned oil and gas company of Kazakhstan, was founded in 2002 by merging Kazakhoil and Oil and Gas Transportation.
Eni has been present in Kazakhstan since 1992. The company is co-operator of the Karachaganak field and a partner in the North Caspian Sea Production Sharing Agreement. Eni cooperates with KazMunayGas on the Isatay block located in the Kazakh sector of the Caspian Sea.
Abay area is located in the North part of the Kazakh sector of the Caspian Sea. The closest port is Bautino port. The field is 65 kilometers away from the shore, and the depth of the water is about 8-10 meters.
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