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LUKOIL Signs HoA with KazMunayGaz in Kazakh Sector

Source: www.gulfoilandgas.com 6/9/2019, Location: Asia

At the 23rd St. Petersburg International Economic Forum, President of LUKOIL Vagit Alekperov and Chairman of the Management Board of KazMunayGaz Alik Aidarbayev have signed a Heads of Agreement on the I-P-2 block located in the Kazakh Sector of the Caspian Sea.

The Heads of Agreement call for the parties to hold negotiations to obtain mineral rights on the block. At the next stage the parties will conclude a contract for hydrocarbon exploration and production and create a joint venture in charge of operations on the block.

The I-P-2 license block is located in the Kazakh Sector of the Caspian Sea with water depth within its area ranging from 300 to 400 meters. The distance to the shore is 130 kms. The nearest port, Aktau, is 130 kms from the block. A number of 2D seismic surveys covering the block area were acquired in previous years.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  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 


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