BAKU, Azerbaijan, September 3. Kazakhstan's
QazaqGaz and China National Offshore Oil Corporation (CNOOC) have
signed a cooperation agreement aimed at expanding collaboration in
the gas industry.
This was announced by the press service of QazaqGaz, following
the meeting between Chairman of the Management Board, Alibek
Zhamauov, and Chairman of CNOOC, Zhang Chuanjiang.
According to the Kazakh company, the newly signed agreement sets
out the main areas of further cooperation between the two
companies.
“The sides discussed prospects for cooperation in the gas
sector, including the implementation of joint geological
exploration projects, attracting investment, and applying modern
technologies to expand Kazakhstan’s gas resource base,” KMG
said.
CNOOC is one of the world's largest oil and gas companies, with
extensive experience in geological exploration, hydrocarbon
development and production. The company operates projects in more
than 20 countries.
On September 2, CNOOC discussed with the leadership of
KazMunayGas plans for further cooperation, including the Zhylyoi
geological exploration project in the transit zone of the
northeastern part of the Caspian Sea.
The Zhylyoi project is being implemented on a 50:50 basis, with
CNOOC financing the exploration phase. KMG earlier said that the
project marks the first investment by a major Chinese company in
geological exploration in Kazakhstan.
