Eni enters into cooperation pact with KazMunayGas
- Business & Finance
Kazakhstan’s state-owned oil and gas company KazMunayGas (KMG) and Italian Eni’s affiliate, Agip Caspian Sea B.V., have signed a memorandum of cooperation (MoC) further expanding the relations between two companies.
The companies agreed to cooperate in three areas under the signed document: technological cooperation in hydrocarbon exploration and production, including sharing the advanced practices and know-how; explore the potential for co-development of exploration and production projects; implementation of training program for the KMG Group staff, KazMunayGas said in a statement on Tuesday.
KMG and Eni are planning regular engagements to ensure the exchange of knowledge and experience in terms of drilling and completion of wells, integrated reservoir modelling, HC residual productive capacity, production increase etc.
“We continue to work on strengthening a long-term cooperation between two companies and this Memorandum is another proof of expansion of boundaries of our cooperation. Successful interaction of the companies will address both production and learning processes,” said Alik Aidarbayev, Chairman of the KMG Management Board.
“Today we have discussed Eni/KMG joint projects and further prospects of our cooperation. Both companies expressed their intent to bring joint activities to a higher level,” said Antonio Vella, Eni S.p.A Chief Upstream Officer.
Eni and KMG are partners in the giant Kashagan field, which is located in the northern part of the Caspian Sea, along with ExxonMobil, Shell, Total, CNPC, and Inpex.
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