Lukoil has concluded Zhenis block's exploration and development in Kazakhstan

4/3/2019
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Photo: Vessel in Caspian Sea. Lukoil.

MOSCOW -- PJSC Lukoil, the Ministry of Energy of the Republic of Kazakhstan and JSC NC KazMunayGas have concluded a contract for the exploration and development of hydrocarbons on the Zhenis block in the Kazakh Sector of the Caspian Sea. Zhenis Operating LLP (50/50 joint venture between Lukoil and KazMunayGas) will be operator of the project.

In accordance with the concluded contract main minimal obligations include drilling of one exploration well and a 3D seismic survey.

The new project in the Caspian Sea is an important step in expanding the resource base in the region which has a strategic importance for the Company and where it has accumulated considerable expertise.  

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