KazMunayGas says it looks for new partners on two projects amid sanctions on Lukoil
Kazakhstan’s national oil and gas company KazMunayGas on Thursday commented on the suspension of the joint development of the Kalamkas-Sea and Khazar oil and gas fields with Russia’s Lukoil, Qazinform News Agency correspondent reports.
As Lukoil is under sanctions, options are being considered to exit the project, said Kurmangazy Iskaziyev, Deputy Chairman of the KMG Management Board on the sidelines of the geological forum in Astana.
He added joint efforts are underway to look for ways to move the project forward while taking the sanctions conditions.
Iskaziyev stressed the company is interested in bringing the field into operation as soon as possible, as the project has not only economic but also social significance.
The construction of the platform at our shipyards will create additional employment in Mangistau region - up to 2,000 jobs, he said, noting that this is one of the reasons why the company is interested in the project’s rapid development.
However, since our partner has come under sanctions, we will continue the project with this in mind. It is clear that there may be other partners; we are not yet conducting negotiations, but we are considering options, said Iskaziyev.
It is worth noting that the implementation of the oil and gas project for the development of the Kalamkas-Sea and Khazar fields began in June 2024.
The Kalamkas-Sea field is located in the central part of the northeastern sector of the Caspian Sea, 64 km from the shore. The sea depth in this area is 6-7 meters. The field is a long and narrow structure approximately 50 km in length and up to 6 km in width.
The Khazar field is located 30 km southwest of Kalamkas-Sea and 65 km northwest of the Buzachi Peninsula.
Earlier, Qazinform reported KazMunayGas, ExxonMobil review cooperation prospects and exploration plans.
