Kazakhstan and Croatia ink hydrocarbon exploration deal in Aktobe region
Kazakhstan and Croatia signed a contract for hydrocarbon exploration and production at the Shygys block in Aktobe region as part of the Geoscience & Exploration Central Asia international forum, Qazinform News Agency reports.
The Kazakh Energy Ministry, KazMunayGas National Company, and GEOENERGIJA RAZVOJ d.o.o., a subsidiary of Croatia’s Hydrocarbon Agency, concluded the agreement.
Deputy Energy Minister Yerlan Akbarov, KazMunayGas First Deputy CEO Kurmangazy Iskaziyev, and GEOENERGIJA RAZVOJ Director, Exploration and Production Marijo Galić became the signatories.
The project will be implemented on a 50/50 parity basis, while the Croatian side will fully fund the exploration stage.
The minimum work program provides for 500 km of 2D seismic surveys and drilling an exploratory well up to 3,500 meters.
The contract marks Croatia’s first entry into Kazakhstan’s exploration market and strengthens strategic energy cooperation between the two countries.
Earlier, the Kazakh Energy Ministry announced new support measures for subsoil users.
