SOCAR Interested in Developing Kazakhstan’s Dunga Oil Field
Photo: Elements.envato.com, ill purposes.
Azerbaijan’s state oil company SOCAR has expressed interest in developing the Dunga field in Kazakhstan, Orda.kz reports.
Kazakh Deputy Minister of Energy Sanzhar Zharkeshov told the Azerbaijani portal Report.az that SOCAR may participate in the development of the Dunga oil and gas field in the Mangystau region.
According to him, KazMunayGas (KMG) has signed a memorandum of cooperation with SOCAR, outlining a “wide range of potential joint projects,” with Dunga among them.
Regarding the Dunga field, SOCAR has expressed its desire to participate in the project. Active negotiations are currently underway, and we await their results from the Azerbaijani Ministry of Energy. Kazakhstan, for its part, is ready to provide comprehensive support,
said Sanzhar Zharkeshov.
The Dunga field, located in the Tupkaragay district of the Mangystau region, was discovered in 1966. Its reserves are estimated at 106 million tons of oil and over six billion cubic meters of gas. The project has been implemented since 1994 under a production-sharing agreement with Oman Oil Company Ltd., which holds a 20% stake.
Trial production began in 2000, and full-scale production launched in 2007. The agreement was later extended until 2039.
At the end of 2023, KazMunayGas acquired a 60% stake in the Dunga project from TotalEnergies. The remaining shares are held by Oman Oil Company Ltd. (20%) and Partex Kazakhstan Corporation (20%), registered in the Cayman Islands.
Earlier, Azerbaijani Energy Minister Parviz Shahbazov announced that SOCAR plans to increase the transportation of Kazakhstan's oil through the Baku–Tbilisi–Ceyhan (BTC) pipeline.
By 2027, the volume is expected to rise to seven million tons per year—more than four times the current level.
Analysts suggest SOCAR’s potential entry into the Dunga project could be part of a broader energy partnership, allowing Kazakhstan to expand oil exports via the BTC pipeline, an important alternative route that bypasses Russia.
Original Author: Nikita Drobny
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