KazMunayGas and LUKOIL Discussed Cooperation On Kalamkas-Sea, Khazar, Auezov Project

Chairman of JSC NC KazMunayGas's Management Board, Magzum Mirzagaliev, met with the management of PJSC LUKOIL.

They discussed cooperation on the Kalamkas-Sea, Khazar, Auezov project located on the shelf of the Caspian Sea.

We have reached the final stage of formalizing corporate procedures for the sale of a 50% stake in Kalamkas-Khazar Operating LLP in favor of LUKOIL. I would like to note with satisfaction the complete mutual understanding and the absence of any controversial points in the negotiating positions of the parties. I am sure that our cooperation will be just as fruitful at the project implementation stage,Mirzagaliyev said.

RMB: On February 9 in Astana, JSC NC KazMunayGas and PJSC LUKOIL signed a number of agreements on the project for the development of the Kalamkas-Sea, Khazar, Auezov subsoil block in the Kazakhstani sector of the Caspian Sea. The parties signed the Agreement of participants, the Agreement for the sale of a 50% stake in the authorized capital of Kalamkas-Khazar Operating LLP (KCO) and the Agreement on the conditions for financing the activities of the operator by the participants