Statoil, Kazmunaygas to explore Caspian block

By OGJ editors
HOUSTON, Mar. 31
-- Statoil and Kazmunaygas signed a heads of agreement to explore the Abay block in Caspian Sea off Kazakhstan.

The two firms will establish a company that will serve as operator and shoot seismic and drill an exploratory well. The block is in 8-10 m of water 65 km from shore and southwest of supergiant Kashagan oil and gas-condensate field.

The joint operating company will participate in social investment projects including the training of local personnel. Statoil will provide financial and technical assistance to Kazmunaygas’ project to build, own, and operate a jackup for use in the Caspian.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...