KMG, CNOOC expand cooperation in geological exploration
Kazakhstan’s KazMunayGas and China National Offshore Oil Corporation International Limited have discussed the key aspects of the bilateral cooperation including joint implementation of Zhylyoi project, Kazinform News Agency reports.
The issues were discussed at a meeting of the Chairman of KMG Management Board, Askhat Khassenov, with CNOOC Chairman Wang Dongjin, the Kazakh company’s press service informed.
In October 2024, KMG and CNOOC entered into an agreement determining the main terms of cooperation on a new subsoil use project (Zhylyoi) in Atyrau region.
According to KMG's preliminary estimates, the geological resource potential of the subsurface area may exceed 185 million tons of oil.
The sides also discussed the new opportunities of cooperation in other geological survey projects as well as strengthening the interaction in engineering with CNOOC’s daughter company COSL China Oilfield Services in oil and gas exploration and extraction.
At the end of the meeting, the parties confirmed their commitment to further strengthening the cooperation and expressed confidence in further implementation of joint projects aimed at the development of oil and gas sector and enhancing strategic partnership between Kazakhstan and China.
China National Offshore Oil Corporation (CNOOC) is one of the world's leading companies in the oil and gas industry, specializing in exploration and production. The company is engaged in the implementation of major projects in more than 20 countries.
Earlier, it was reported that KMG PetroChem and TCO agreeed on supply of dry gas to gas processing plant in Atyrau region.