QazaqGaz, Agip Caspian Sea B.V. to jointly explore Kamenkovsky area
QazaqGaz national company and Agip Caspian Sea B.V signed an agreement on joint exploration of the Kamenkovsky Block, Qazinform News Agency reports citing the Kazakh company's press service.
The document was signed on January 12, by Alibek Zhamauov, Chairman of the Board of NC QazaqGaz JSC, and Seger Hoijtink, Chairman & Managing Director of Agip Caspian Sea B.V. in Astana.
The main objective is to determine a possible investment opportunity for equity participation to explore the subsurface for hydrocarbons in the Kamenkovsky area. This cooperation is being carried out as part of the implementation of the Head of State's instructions and in accordance with the strategy of NC QazaqGaz JSC to increase the gas resource base.
The Kamenkovsky site is located in the northern marginal zone of the Caspian sedimentary basin, which offers great prospects for the discovery of gas, and gas condensate fields. Fields such as Karachaganak, Chinarevskoye, Rozhkovskoye, and others have previously been discovered in this region.
The joint study agreement provides for comprehensive geological and geophysical studies, which will serve as the technical basis for assessing the hydrocarbon potential and commerciality of the Kamenkovsky area.
Earlier, it was reported that QazaqGaz is set to commence geological exploration at the Saralzhyn block following the signing of a subsoil use contract.