Kurmangazy area is located in the Northern Caspian. The nearest port is Bautino 80 km away.
The square of the area is 1632 km².
Kurmangazy is located in the vicinity of the sea, with water depth being from 5 to 7 meters. The bottom relief has minor slopes, with water depth deepening to the South.
Jurassic –chalk deposits are considered to be the most expected oil-prospective complex of Kurmangazy structure. However, according to seismic exploration, there is also a chance to discover hydrocarbon reserves in Trias deposits.
On July 5, 2005, Ministry of Energy and Mineral resources on the one hand , MNC «KazMunayTeniz» JSC and «RH –Kazakhstan» Ltd on the other hand signed Product Sharing Agreement. At the same time, MNC «KazMunayTeniz» JSC and «RH Kazakhstan» Ltd. signed a cooperation agreement on Kurmangazy structure development». The agreement defines rights and obligations of the Parties in terms of the Project implementation.
Marine oil operations are implemented by Kazakhstan operating company «Kurmangazy petroleum» Ltd, which is 100% subsidiary of MNC «KazMunayTeniz» JSC. April 12, 2006 saw the commencement of drilling of the first exploration well at a depth of 2000 m. The first exploration well construction was completed on June 11, 2006.
The data collected as a result of drilling will be the basis for future exploration aimed at updating the geological model of «Kurmangazy» structure.
The analysis of all geological-geophysical data will be followed by exploration in order to fulfill mandatory program provided by the Subsoil management contract, including drilling of the second exploration well.