BAKU, Azerbaijan, May 18. Kazakhstan's KazMunayGas national company and China's Sinopec International Energy Investment Limited (Sinopec) signed an agreement in the field of geological exploration of the subsoil of the Republic of Kazakhstan, Trend reports via the press service of KazMunayGas.
The agreement was signed as part of the state visit of Kazakhstan's President Kassym-Jomart Tokayev to China.
The document assumes a joint study of 17 exploration sites located within the main and poorly studied sedimentary basins. When confirming the prospects of the sites (or site), the parties will consider the possibility of obtaining a contract for the exploration and production of hydrocarbons.
Sinopec is also going to organize the exchange of experience in the field of exploration and development of deposits.
"The signed agreement in the field of geological exploration of the subsoil will allow us to identify the most promising growth points and in the future proceed directly to the industrial development of new deposits in Kazakhstan," said Magzum Myrzagaliev, Chairman of the Management Board of KazMunayGas.
On May 17, Kazakhstan's President Kassym-Jomart Tokayev left for a state visit to China. On the first day of his visit, which will last until May 19, a number of documents that envisage cooperation in various fields, including energy, were signed.
