Russia's Lukoil and Kazakhstan's KazMunaiGas signed a binding agreement on the basic principles for the large Kalamkas-Sea project in the Kazakh sector of the Caspian Sea, Lukoil president and co-owner Vagit Alekperov told TASS.
"We signed a binding agreement on the basic principles on the Kalamkas-Sea," he said.
Earlier, the President of Kazakhstan Kassym-Jomart Tokayev said that the republic is beginning to develop the offshore oil field Kalamkas-sea, a partner in this project will be Lukoil
Lukoil participates in several major projects in Kazakhstan. The company owns 13.5 percent in the Karachaganak project, one of the largest oil and gas condensate fields in the world, and 5 percent in the Tengiz project. Lukoil also owns 12.5% in the Caspian Pipeline Consortium, the only privately owned trunk pipeline in Russia and Kazakhstan. In addition, in 2019, Lukoil signed a contract for exploration and production of hydrocarbons at the Zhenis block in the Kazakhstan sector of the Caspian Sea, the company owns 50% in it. In the summer of this year, Lukoil signed an agreement with Kazakhstan's KazMunaiGas to acquire a 49.99% stake in the Al-Farabi joint project (previously called I-P-2).
GSV "Russia - Islamic World"
Photo: Lukoil
Based on materials from TASS