en.Wedoany.com Reported - KazMunayGas (KMG) held talks with Sinopec International Petroleum Exploration and Production Corporation on joint exploration work in the Berezovsky block, with both sides focusing on the current progress of the project.
According to an official statement from KMG, the meeting was co-chaired by Kurmangazy Iskaziyev, First Vice Chairman of the Management Board of KMG, and Li Yahui, Chairman of Sinopec International Petroleum Exploration and Production Corporation.
The core topic of the talks was the joint geological exploration project in the Berezovsky block, located in the West Kazakhstan region. This block holds significant oil and gas resource potential, with both parties cooperating on a 50:50 equity basis. Under the agreement, all investment during the exploration phase is borne by the Chinese side.
In accordance with the approved work program, both parties plan to complete 900 linear kilometers of 2D seismic data acquisition by the end of this year. Additionally, the minimum work program for this complex block includes 3D seismic exploration and the drilling of one ultra-deep parametric well with a designed depth of 7,000 meters.
The report stated that against the backdrop of deepening geological exploration cooperation, the Chinese side expressed a strong willingness to jointly conduct scientific research on deep subsalt structures in the Caspian Basin. The deep subsalt structures along the northern margin of the basin show promising oil and gas prospects but present complex geological conditions and significant engineering challenges.
During the talks, both sides also reviewed the operational status of existing joint venture production enterprises—Kazakhoil Aktobe and Ural Oil and Gas. Following this high-level meeting, KMG and Sinopec reaffirmed their commitment to further strengthening their strategic energy partnership and accelerating the progress of key exploration and development projects.
CNOOC Holds Talks with KMG
Last week, KMG held talks with CNOOC on the joint advancement of the Zhylyoi oil and gas exploration project. According to an official statement from KMG, the meeting was attended by Kurmangazy Iskaziyev, First Vice Chairman of the Management Board of KMG, along with Zhang Chuanjiang, Chairman of CNOOC Group, and Liu Yongjie, Chairman of CNOOC International Limited.
The core topic of the talks was the Zhylyoi oil and gas exploration project, located in the transitional zone of the northeastern Caspian Sea. The project is a 50:50 equity joint venture, with all investment during the initial exploration phase borne by the Chinese side, with a minimum investment of approximately $31.5 million. To accurately assess the resource potential of the block, both parties plan to initiate field operations in the near future. KMG stated in a press release: "The joint venture plans to commence 3D seismic field acquisition covering an area of 400 square kilometers by the end of 2026."
In addition to 3D seismic exploration, the minimum work program for the project includes reprocessing 400 linear kilometers of historical 2D seismic data, drilling one 2,000-meter-deep pre-salt exploration well, and, depending on seismic interpretation results, potentially drilling a deeper 4,500-meter subsalt exploration well. During the talks, both sides also exchanged views on expanding cooperation prospects using new oil and gas assets in Kazakhstan. The report noted that the Chinese side expressed particular interest in participating in large-scale seismic exploration projects targeting deep subsalt Paleozoic sediments in the Caspian Basin.
