LUKoil and Kazmunaigas signed an agreement on the Kalamkas-Sea project

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Russian LUKoil and Kazakhstan’s Kazmunaigaz signed a binding agreement on the basic principles for the large Kalamkas-Sea project in the Kazakh sector of the Caspian Sea. 

President and co-owner of LUKoil Vagit Alekperov told TASS about this.

“We have signed a binding agreement on the basic principles for the Kalamkas-Sea,” he said.

Earlier, the President of Kazakhstan, Kassym-Zhomart Tokayev, said that the republic was starting to develop the offshore oil field Kalamkas-Sea, and Lukoil would become a partner in this project.

LUKoil participates in several large projects in Kazakhstan. Thus, the company owns 13.5% in the Karachaganak project, one of the largest oil and gas condensate fields in the world, and 5% in the Tengiz project. LUKoil also owns 12.5% ​​of the Caspian Pipeline Consortium, the only private trunk pipeline in Russia and Kazakhstan.

 In addition, in 2019, LUKoil signed a contract for the exploration and production of hydrocarbons in the Zhenis block in the water area of ​​the Kazakh sector of the Caspian Sea, the company owns 50% in it.

This summer, LUKoil signed an agreement with Kazakhstan’s Kazmunaigaz to acquire 49.99% in the Al-Farabi joint project (formerly I-P-2).

Caspian Barrel