Gulf Oil and Gas accountACCOUNT

Eni & KMG Complete Transfer of Subsoil Use Rights of Isatay Block

Source: www.gulfoilandgas.com 12/22/2017, Location: Asia

Share |
The agreement expands the scope of Eni's activities in Kazakhstan and consolidates the strategic alliance with its key partner KazMunaiGas. The Ministry of Energy of the Republic of Kazakhstan, Eni and KazMunaiGas (KMG) signed yesterday the agreement to transfer to Eni 50% of the subsoil use rights of the Isatay block, located in the Caspian Sea, for exploration and production of hydrocarbons.

The block is estimated to have significant potential for hydrocarbon resources, which are geologically not complex and technologically developable in short time.

The signature of this transaction marks the beginning of the operations of the new Joint Company, in which Eni will leverage its proprietary technologies, its leadership in exploration and its extensive experience in challenging technical and environmental areas such as the Caspian Basin.

The agreement expands the scope of Eni's activities in Kazakhstan and consolidates the strategic alliance with its key partner KazMunaiGas.

In Kazakhstan, Eni is joint operator of the Karachaganak field with a 29.25% stake, and is an equity partner in various projects in the Northern Caspian Sea, including the giant Kashagan field with a 16.81% stake.

Acquisitions and Divestitures News in Kazakhstan >>

United Kingdom >>  1/18/2018 - Ithaca Energy Inc. (Ithaca) announces that it has entered into an agreement for the sale of its entire interest in Licences PL089, P534 and PEDL 328, ...
Norway >>  1/16/2018 - In connection with the Award in Predefined Areas (APA) for 2017 Statoil has been offered interests in 31 exploration licences on the Norwegian contine...

Norway >>  1/16/2018 - The Norwegian Ministry of Petroleum and Energy offers the industry 75 production licenses on the Norwegian continental shelf in the Award in Pre-Defin...
Norway >>  1/16/2018 - Faroe Petroleum, the independent oil and gas company focussing principally on exploration, appraisal and production opportunities in Norway and the UK...

Norway >>  1/16/2018 - The Norwegian Ministry of Petroleum and Energy has awarded five new licenses to DEA in this year’s APA round. DEA’s Exploration Manager Svend Erik Pet...
United Kingdom >>  1/16/2018 - United Oil & Gas, the London Stock Exchange listed oil and gas exploration and development company, has announced an agreement to farm-in to the Coral...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Kazakhstan Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

Oil & Gas Projects in Kazakhstan >>

More News

 

Oil & Gas Companies in Kazakhstan >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.