Equinor to assess hydrocarbon potential of areas in Kazakhstan

KazMunayGas, Kazakhstan’s state-owned oil and gas company, and Norwegian oil and gas giant Equinor have signed a joint study agreement to assess the hydrocarbon potential of oil and gas areas in Kazakhstan. 

On September 24, 2019, Alik Aidarbayev, Chairman of the Management Board at JSC NC KazMunayGas (KMG) met with Tore Loseth, Senior Vice President for Exploration at Equinor.

KMG said on Tuesday that the meeting attendees had highlighted the importance of the cooperation between Kazakhstan and Norway on oil and gas business and expressed their interest in joint study of some oil and gas areas in Kazakhstan in order to be awarded subsoil use contracts going forwards. To that effect, the companies signed a joint study agreement as part of their long-term mutually beneficial cooperation.

The document was signed by Dastan Abdulgafarov, Chief of Staff, Managing Director for Development at KMG and Tore Loseth, Senior Vice President for Exploration at Equinor. The agreement provides for geological and geophysical studies to assess the hydrocarbon potential of oil and gas areas in Kazakhstan.

“We expect that this agreement will serve as the basis of successful cooperation in future. Both companies are ready to consider Equinor as a strategic partner under exploration and production contracts in Kazakhstan,” Alik Aidarbayev said.

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