President of PJSC LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGas Alik Aidarbayev signed agreements on joint cooperation and financing of the Zhenis project in the Kazakhstan's sector of the Caspian Sea. The documents set the terms of the block's development.

The next step will be the negotiations with the competent authority of the Republic of Kazakhstan to qualify for the exploration and production at the block.

The new Caspian project is an important milestone in terms of expanding of the Company's resource base in the strategically important region, where the Company has already gained significant competencies.

About the Zhenis block

The Zhenis block is located in the southern part of the Kazakhstan’s sector of the Caspian Sea. The distance to the shore is 80 kilometers, the nearest sea port is Aktau.
LUKOIL has been successfully operating in Kazakhstan since 1995. The Company is involved in the development of Tengiz, Karachaganak and Kumkol fields, is also a party to the joint venture to develop Tsentralnoye field in the Caspian Sea and is a member of the Caspian Pipeline Consortium.

About LUKOIL

PJSC “LUKOIL” is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, the Company currently operates in more than 30 countries with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution providing LUKOIL with maximum synergies from its activities. The Company’s shares are listed in Russia on Moscow Exchange under the ticker “LKOH” and depositary receipts are listed on the London Stock Exchange under the ticker “LKOD”.

About JSC NC KazMunayGas

JSC NC KazMunayGas is the National Oil & Gas Company of the Republic of Kazakhstan and operator for exploration, production, refining and transportation of hydrocarbons, representing the state's interests in the oil and gas industry of Kazakhstan. National Company "KazMunayGas" is a vertically integrated oil and gas company with a complete production cycle from exploration and production of hydrocarbons, their transportation and processing to providing specialized services.