Font size:
+A
-A
Mode:
Return to the normal mode
Switch to the mode for the visually impaired
Site Map Press center Career Contacts
ENG
Company Investors Sustainable development Procurement
Company
About us Business Lines Projects
Corporate Governance
Corporate Governance Shareholders Board of Directors Management Board Corporate Secretary Ombudsman Compliance Internal Audit Service Risk Management and Internal Control
Corporate documents
Investors
Investors Reporting Investor's Calendar Dividends General Meeting of Shareholders Bonds and Credit Ratings
IPO materials
IPO
Frequently Asked Questions
Sustainable development
Sustainable development
Environmental Responsibility
Environmental Management Air protection Water Management Waste management Biodiversity conservation
Social Responsibility
Social Responsibility Personnel policy Occupational Safety and Health Industrial Safety Crisis and Emergency Management for effective production management
Corporate Governance
Corporate Governance Shareholders Board of Directors Management Board Corporate Secretary Ombudsman Compliance Internal Audit Service Risk Management and Internal Control
Procurement
Site Map Press center Career Contacts

KazMunayGas and LUKOIL Sign a Purchase Agreement on Al-Farabi Project

04.06.2021

On 4 June 2021 JSC NC "KazMunayGas” (KMG) and PJSC LUKOIL (LUKOIL) signed the Agreement on Purchase of 49.99% Interest in Al-Farabi Operating LLP's Charter Capital. The event was held during the St. Petersburg International Economic Forum.

After the transaction is closed, KMG and LUKOIL’s stakes in the joint venture will be 50.01% and 49.99%, respectively.

Cooperation on the Al-Farabi project is financed on the carry terms, the costs attributable to KMG's interest are borne by the strategic partner. In case of commercial production, the costs will be reimbursed from KMG's further profit from the project.

Al-Farabi area is located in the Kazakhstan sector of the Caspian Sea. Distance to shore is 130 km, water depth: 300-600 m. According to the base minimum work, drilling of 1 well (2,500 m) and 3D seismic acquisition (120 km2) are in the plans.

“KazMunayGas and LUKOIL |are bonded by long-lsating strategic cooperation and good partner relations. Big efforts are led jointly with LUKOIL on the Al-Farabi site. I am confident that our cooperation will be promoted year by year, and our joint projects will be successful. On the whole, I can say that today KazMunayGas is continuing active implementation of the Caspian shelf subsoil use investment projects, such as Abai, Issatai, Zhenis, Al-Farabi, and oil and gas chemistry projects for production of polypropylene, polyethylene and butadiene”, Alik Aidarbayev, Chairman of KMG's Management Board, noted.

Alongside with that, oil and gas chemistry projects, being implemented in Kazakhstan, were discussed during the meeting.

KMG and LUKOIL are carrying out joint operations on the Zhenis, Khvalynskoye, Centralnaya projects, participate in the Tengiz and Karachaganak megaprojects, as well as in the Caspian Pipeline Consortium oil transportation project.

JSC NC KazMunayGas

On 4 June 2021 JSC NC "KazMunayGas” (KMG) and PJSC LUKOIL (LUKOIL) signed the Agreement on Purchase of 49.99% Interest in Al-Farabi Operating LLP's Charter Capital. The event was held during the St. Petersburg International Economic Forum.

After the transaction is closed, KMG and LUKOIL’s stakes in the joint venture will be 50.01% and 49.99%, respectively.

Cooperation on the Al-Farabi project is financed on the carry terms, the costs attributable to KMG's interest are borne by the strategic partner. In case of commercial production, the costs will be reimbursed from KMG's further profit from the project.

Al-Farabi area is located in the Kazakhstan sector of the Caspian Sea. Distance to shore is 130 km, water depth: 300-600 m. According to the base minimum work, drilling of 1 well (2,500 m) and 3D seismic acquisition (120 km2) are in the plans.

“KazMunayGas and LUKOIL |are bonded by long-lsating strategic cooperation and good partner relations. Big efforts are led jointly with LUKOIL on the Al-Farabi site. I am confident that our cooperation will be promoted year by year, and our joint projects will be successful. On the whole, I can say that today KazMunayGas is continuing active implementation of the Caspian shelf subsoil use investment projects, such as Abai, Issatai, Zhenis, Al-Farabi, and oil and gas chemistry projects for production of polypropylene, polyethylene and butadiene”, Alik Aidarbayev, Chairman of KMG's Management Board, noted.

Alongside with that, oil and gas chemistry projects, being implemented in Kazakhstan, were discussed during the meeting.

KMG and LUKOIL are carrying out joint operations on the Zhenis, Khvalynskoye, Centralnaya projects, participate in the Tengiz and Karachaganak megaprojects, as well as in the Caspian Pipeline Consortium oil transportation project.
>