Centralnaya

In accordance with geographical zoning of the Caspian sea, the licensed block Centralnaya belongs to the Russian Federation. The distance to the coast is 140-150 km. The depth of the sea in the site under consideration ranges from 100 to 600 m.

Seismic exploration analysis of Centralnaya oil and gas structure gives evidence of Lower Cretaceous and Jurassic deposits.

In accordance with the Protocol of May 13, 2003 to the Agreement between RK and RF about delimitation of the Caspian bottom with the purpose of enjoyment of sovereign rights for subsoil management of July 6, 1998, hydrocarbon reserves development will be shared.

Subsoil management of the geological structure «Centralnaya» is implemented in accordance with the law of the Russian Federation. The decree of the Government of RK of June 13, 2002 N 637a appoints NC «KazMunayGas» the authorized organization from the Republic of Kazakhstan. The authorized organization from the Russian Federation is «CenterCaspNeftgas» Ltd.

The Agreement on cooperation principles between NC «KazMunayGas» JSC and «CenterCaspNeftgas» Ltd was signed on March 14, 2005. At present, they are creating Consortium on the basis of shared activity agreement.

Feasibility study of «Centralnaya» structure is supposed to be negotiated with the Government of PF about PSA terms.

Cooperation principles agreement between NC KazMunaiGas JSC and CenterCaspneftegas OJSC was signed on March 14, 2005. Feasibility study for Central structure is currently developed to initiate negotiations with the Government of the Russian Federation on PSA terms and conditions.