BAKU, Azerbaijan, Sept.9
By Nargiz Sadikhova - Trend:
Kazakhstan’s KazMunayGas (KMG) National Company is currently independently planning exploration work at the Turgay paleozoic basin in the Kyzylorda region, the company told Trend.
Earlier it was reported Kazakhstan’s KazMunayGas National Company will start exploration in the country’s Kyzylorda region.
In a statement published at the Kazakhstan Stock Exchange, the company said that it has signed an agreement for development and hydrocarbons extraction with Kazakhstan Energy Ministry.
According to the company, the first priority is to carry out exploration work to search for and discover hydrocarbons.
Currently, the company is planning that the duration of the exploration stage will be nine years. If hydrocarbons are discovered, further terms of the project will be determined.
As for cooperation with any companies, it is possible in the case of their appeal and the subsequent elaboration of the main issues of cooperation, taking into account the agreements with the Ministry of Energy within the framework of the legislation on subsoil, the company noted.
At the same time, at the moment, KMG independently plans the implementation of this project in the field of subsoil use.
National Company KazMunayGas (KMG) is the Kazakhstan operator for exploration, production, refining and transportation of hydrocarbons, representing the state interests in the oil and gas industry of Kazakhstan.
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