KazMunayGas (KMG) and China Nationwide Offshore Oil Company Worldwide Restricted (CNOOC) are partnering on a brand new geological venture in Zhylyoi, Kazakhstan.
The 2 firms signed an settlement on the primary phrases of cooperation, KMG stated in a information launch.
The venture actions coated within the settlement embrace 2D seismic surveys, consisting of the processing and interpretation of the information, and 3D seismic surveys, consisting of subject operations, the processing and interpretation of the information from 154.4 sq. miles (400 sq. kilometers).
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The settlement additionally consists of the drilling of 1 post-salt exploration nicely 6561.68 toes (2000 meters) deep and the drilling of 1 pre-salt exploration nicely 14763.78 toes (4,500 meters) deep based mostly on the outcomes of 3D seismic knowledge, in keeping with the discharge.
In keeping with a preliminary evaluation made by KMG, the mineral web site’s oil reserves could also be over 185 million tons. “The signed fundamental phrases of cooperation serve [as] a sworn statement of CNOOC’s severe curiosity in joint venture realization, which provides new hydrocarbons exploration alternatives to each firms,” the Kazakhstan nationwide oil firm added.
KMG CEO Askhat Khassenov stated, “We imagine that the partnership with one of many world’s main vitality firms will ramp up the oil and gasoline business of Kazakhstan and convey international investments to the nation because the exploration might be financed by CNOOC”.
In August, KMG and CNOOC had signed a geological exploration intent settlement.
Earlier within the month, the KMG CEO additionally met with China Nationwide Petroleum Company (CNPC) to debate key oil and gasoline cooperation points, together with geological exploration, oil and gasoline chemistry, oil refining and transportation.
KMG and CNPC had signed a framework settlement on strategic cooperation within the oil and gasoline business.
As well as, the events agreed to carry joint Kazakh-Chinese language technical seminars to change oil and gasoline exploration and improvement applied sciences.
CNPC is the mum or dad firm of PetroChina, one of many largest publicly traded oil and gasoline firms on this planet. Its principal enterprise actions are oil and gasoline exploration and manufacturing, oil refining, petrochemical manufacturing, and petroleum merchandise advertising and marketing.
Drilling Rig Tapped for Caspian Sea Mission
In the meantime, the primary jack-up drilling rig in-built Kazakhstan will begin drilling operations within the Cheleken–Turkmenian sector of the Caspian Sea.
KNG subsidiary KMG Drilling and Companies (KMG DS) owns the Satti, which is “a novel invention totally geared up with superior applied sciences for difficult offshore drilling operations,” in keeping with an earlier information launch. KMG DS opened a department in Ashgabat to assist run drilling actions. In August, KMG DS and Dragon Oil Turkmenistan Restricted signed a contract for drilling works within the Turkmen sector of the Caspian Sea.
In 2021, the Satti was modified, growing its lifting capability from 453 to 680 tons, permitting it for use for bigger tasks. The rig is designed to drill wells as much as 19685 toes (6,000 meters) deep.
“This occasion marks an vital stage in [the] growth of Kazakhstan’s presence within the worldwide oilfield providers markets, and strengthens bilateral cooperation between Kazakhstan and Turkmenistan,” KMG stated.
Oil Turkmenistan Ltd is a subsidiary of Dragon Oil (UAE), engaged in exploration and manufacturing of hydrocarbons within the Cheleken Block of the Caspian Sea. The corporate is owned by Emirates Nationwide Oil Firm (ENOC).
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