ASTANA, Kazakhstan, October 16. Kazakhstan's KazMunayGas JSC (KMG, Kazakhstan's national oil and gas company) and China National Offshore Oil Corporation (CNOOC) signed a Memorandum of Understanding on October 16 in Beijing, KMG told Trend.
The Memorandum of Understanding was signed by the Chairman of the Management Board of KMG Magzum Mirzagaliyev and the Chairman of the Management Board of CNOOC Wang Dongjin.
As part of the document, the parties will conduct joint geological research on promising exploration projects and expand cooperation on existing fields and oilfield services on Kazakh territory.
As the company noted, this year, KMG presented a number of promising offshore and onshore projects to CNOOC. Among them are geological exploration projects and a regional project for the Caspian sedimentary basin.
"By signing today's memorandum, we have laid a solid foundation for our business relationship and cooperation. We fully support the strengthening of a mutually beneficial partnership with CNOOC and are confident that this document will serve as a driver for further cooperation and the discovery of new hydrocarbon deposits," Mirzagaliyev said.
In turn, Wang Dongjin expressed confidence that after signing the memorandum, the cooperation of the companies will soon bring significant results.
"We deeply value partnership, strive for mutually beneficial cooperation and are ready to share experience and expertise in the field of geological exploration," he added.
