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KMG & Tatneft Signed a Memorandum of Understanding

Source: www.gulfoilandgas.com 7/10/2019, Location: Asia

As part of the intergovernmental agreement On principles of trade, economical, scientific and cultural collaboration a meeting between Chairman of the Management Board, Samruk-Kazyna JSC, Akhmetzhan Yessimov and Alik Aidarbayev and President of Tatarstan Rustam Minnikhanov was held where the parties expressed their desire to initiate a new phase of cooperation in the oil and gas industry.

The issues discussed included the potential for cooperation between the enterprises of the Republic of Tatarstan and KMG in geological survey, gas and petrochemistry, technical cooperation and digitization.

On the same day NC KazMunayGas and Tatneft PJSC signed a Memorandum of Understanding. The document outlines the expected areas of cooperation in geological survey and joint geological survey in Kazakhstan and Russia, introduction of new oil production technologies and experience exchange in digitization of production.

KMG CEO Alik Aidarbayev noted that Tatneft and KazMunayGas have long-standing and strong relations in the exchange of technical information and staff training:
“I believe that signing the Memorandum will mark the beginning of a new phase of a long joint journey. The prospects for Pre-Caspian Depression development attract huge interest of major international oil companies. Russian companies, including tatar ones, could be actively involved into this process.”

The parties emphasized that meeting in Kazan is not only a platform to discuss the contemporary challenges in the oil and gas industry but an excellent opportunity to find new mutually advantageous points of cooperation. The participants expressed confidence that it would serve to strengthen partnership relations between the leading oil and gas companies of Kazakhstan and Tatarstan.

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