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  • Lukoil signs contract to acquire share in Al-Farabi offshore project in Kazakhstan
    édité le 07/06/2021 - Plus de news de "LUKOIL" - Voir la fiche entreprise de "LUKOIL"


Lukoil signs contract to acquire share in Al-Farabi offshore project in Kazakhstan
Président of PJSC LUKOIL Vagit Alekperov and Chairman of the Management Board of JSC NC KazMunayGas Alik Aidarbayev signed a sale and purchase agreement for a 49.99% stake in the charter capital of Al-Farabi Operating LLP. The signing ceremony took place today at the St. Petersburg International Economic Forum (SPIEF).

Following satisfaction of a number of conditions precedent LUKOIL will join the exploration and production project on the Al-Farabi block (previously known as I-P-2 block) in the Kazakhstan Sector of the Caspian Sea. A Head of Agreement on the project was signed at the SPIEF in 2019.

The companies' decision to join efforts in the development of the Al-Farabi block is another step in their continuous fruitful cooperation. LUKOIL, the Ministry of Energy of the Republic of Kazakhstan and KazMunayGas had earlier concluded a contract for hydrocarbon exploration and production on the Zhenis block. LUKOIL and KazMunayGas are also strategic partners in the large-scale Karachaganak and Tengiz projects, in joint ventures that develop the Khvalynskoye and Tsentralnoye fields, as well as in the Caspian Pipeline Consortium oil transportation project.

About the Al-Farabi block

The Al-Farabi block is located in the Kazakhstan sector of the Caspian Sea, bordering the block of Zhenis field. Water depth within its area ranges from 150 to 500 metres; the distance to the shore is 100-130 kilometres. The area of the block exceeds 6000 square kilometres. The sea in the area is ice-free all year round.

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

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.


Origine : Communiqué LUKOIL

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