Russia And Kazakhstan: Oil Will Be Searched for in Western Kazakhstan

Karaton Operating Ltd, half of whose shares KazMunayGas sold to Russian Tatneft, will begin drilling the first well 5,500 meters deep in November at the Karaton Podsolovoy site.

Oil and gas industry analyst Oleg Chervinsky writes in Telegram that drilling equipment is currently being installed at the site. Karaton Podsolovoy will be developed by a joint Kazakh-Russian venture created following negotiations between the two companies in Kazan in early 2024.

Tatneft bought 50% of the shares in Karaton Operating Ltd (operator of the Karaton Podsolovoy project). The company was registered in September 2023, and KMG received a contract for exploration and production of hydrocarbons at the Karaton Podsolovoy site in the summer of 2023, Chervinsky points out.

The Karaton Podsolovoy site is in the Atyrau and Mangystau regions. YembaMunayGas JSC developed active fields nearby.

We reported back in February how KMG transferred a stake in Karaton Operating Ltd to the Russian Tatneft. At the beginning of the year, this organization was headed by Arsen Baikharashev, the former head of the oil and gas production department's production assets department at KazMunayGas.

Reports recently surfaced that Italian investors did not find oil on Kazakhstan's shelf of the Caspian Sea.

Original Author: Nikita Drobny