PJSC LUKOIL and JSC NC KazMunayGas signed several agreements today in Astana regarding the Kalamkas-Sea, Khazar, Auezov subsoil area development project in the Kazakhstan sector of the Caspian Sea. They define rights and obligations of the subsoil user during joint development activities in the area.

The agreements will come into force following the completion of the sale and purchase transaction between LUKOIL and KazMunayGas that will result in both companies holding equal shares in Kalamkas-Khazar Operating LLC, the operating company for the project.​

In late 2021, LUKOIL signed a principles agreement on the Kalamkas-Sea, Khazar, Auezov project and became Kazakhstan's strategic partner in the development of these Caspian offshore subsoil areas.

About LUKOIL in Kazakhstan

LUKOIL has been operating in Kazakhstan since 1995. In cooperation with KazMunayGaz, the Company participates in the development of the Karachaganak, Tengiz, Zhenis and Al-Farabi fields, and in joint ventures for the development of the Khvalynskoye and Tsentralnoye fields. It is also a member of the Caspian Pipeline Consortium.

In 2019, LUKOIL opened a lubricants plant in the Almaty region of Kazakhstan. The facility produces 700 types of lubricants, developed with the use of innovative molecular technologies and approved by the world’s leading car manufacturers.

About Lukoil

LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.

About KazMunayGas (KMG)

JSC “National Company “KazMunayGas” is a leading vertically integrated oil and gas company in Kazakhstan. KMG manages assets throughout the entire production cycle, i.e. from exploration and production of hydrocarbons to transportation, refining and provision of maintenance services. Founded in 2002, the Company represents the Republic of Kazakhstan’s interests in the national oil and gas industry.