BAKU, Azerbaijan, Mar. 18
By Nargiz Sadikhova - Trend:
Italian ENI will sign an agreement worth $1 billion for the future development of Kazakhstan’s Karachaganak oil and gas field, General Director of the Association of Kazakhstan's Oilfield Service Companies Nurlan Zhumagulov said, Trend reports.
Zhumagulov made the statement during a briefing held on Mar. 18, 2021.
He noted that the Association has held talks with the ENI on the company’s plans for an operation in Kazakhstan and the company has expressed interest in implementing and investing in more projects in the country.
In particular, the decision to sign an agreement worth $1 billion was made within the Karachaganak project.
"Just yesterday we held a meeting with the authorized body on PSA, which confirmed that a preliminary agreement with the preliminary contractor has already been concluded. The delivery of a compressor from Europe is expected soon. In September, an agreement will be signed with the general contractor," Zhumagulov said.
In turn, in regards to the Kashagan project, investors must provide a concept of how the project will develop by the end of the year.
"Now we see that investors are interested in the implementation of projects in Kazakhstan’s oil and gas sector. In November a council of foreign investors was held, during which readiness to implement further projects was expressed, in particular in regards to the North Caspian project," Zhumagulov added.
He added that as soon as the Tengiz Future Growth Project is finished, other oil and gas projects will be launched in the field. Investors will implement them in stages and thus support an increase in oil production in this major field.
---
Follow the author on Twitter: @nargiz_sadikh
