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KazMunayGas announces the search for a strategic partner for the joint implementation of the Bolashak Project

13.09.2023

JSC NC “KazMunayGas” is searching for a strategic partner for joint implementation of the new subsoil use project, Bolashak.

1) Name of the new subsoil use project (subsoil site) — Bolashak, subsoil site Bolashak.

2) Location of subsoil sites — Mangistau Region (partly located in the Kazakhstan sector of the Caspian Sea). The subsoil site is included in the State Fund Management Programme with the indication of coordinates and is on the List of subsoil site territory for exploration and production or production of hydrocarbons for granting subsoil use rights to national companies. Please see the link to the document:

https://www.gov.kz/memleket/entities/miid/documents/details/446556?lang=ru

3) Requirements for legal entities (consortium of legal entities) establishing eligibility criteria for the strategic partner of JSC NC “KazMunayGas” for investment financing of the Bolashak Project for the subsequent acquisition of subsoil use rights (the “Requirements”):

These Requirements have been developed in accordance with Code No. 125-VI of the Republic of Kazakhstan dated 27 December 2017 “On Subsoil and Subsoil Use”.

“Organisation” means a Kazakhstani or foreign legal entity (or an association of two or more legal entities).

“Parent Company” means a legal entity that owns 100% of the participation interest (shareholdings) in the Organisation, whether directly or indirectly.

  1. Existence of state registration as a legal entity (extract from the Commercial Register or other legalised document certifying that the applicant is a legal entity under the law of a foreign country), name and location of the Organisation.
  2. Information on managers, legal entities, individuals, states and international organisations that directly or indirectly control the strategic partner.
  3. Information on the past activities of the strategic partner, including a list of countries in which it has operated over the last three years.
  4. The Organisation must not be in liquidation, reorganisation or bankruptcy proceedings.
  5. The Organisation must not have any outstanding arrears in the payment of taxes and other mandatory payments to the budget.
  6. Confirmation of the availability of sufficient financial resources to carry out the work programme, which shall include the scope, description, and schedule of work during the exploration period.
  7. The Organisation must undertake to carry out investment financing of exploration under a joint activity contract (agreement) and/or a financing agreement concluded for the purpose of obtaining the subsoil use rights on the basis of direct negotiations in accordance with the procedure established by Article 103(7) of the Code of the Republic of Kazakhstan “On Subsoil and Subsoil Use”.
  8. The Organisation must undertake to pay the subscription bonus or reimburse the amount of the subscription bonus paid by the national hydrocarbon company.
  9. The Organisation must have positive experience of at least 5 years in exploration and production within the Republic of Kazakhstan and/or abroad.
  10. Availability of qualified professionals (management) in the Organisation with at least ten (10) years of experience in the oil and gas industry.
  11. Sufficient solvency of the Organisation to ensure implementation of the new subsoil use project confirmed by financial statements and other documents. The Organisation’s equity must not be less than one hundred million (100,000,000) US dollars.
  12. If the Organisation or its Parent Company is on the list of the world’s largest public companies in the Oil & Gas Operations according to Forbes (https://www.forbes.com/global2000/list/), clauses 9, 10 and 11 of the Requirements do not apply.

4) List of documents provided by Organisations to confirm they meet the Requirements:

  1. Copy of the certificate (or other document) of state registration (re-registration) of a legal entity, extract from the Commercial Register or other document certifying that the applicant is a legal entity under the law of a foreign state; for a temporary association of legal entities (consortium), a copy of the consortium agreement and copies of the certificates (or other documents) of state registration (re-registration) of the consortium members.
  2. Copy of the Articles of Association approved in accordance with the established procedure; for legal entities registered on the basis of model Articles of Association, a copy of the application of the established form for registration of a legal entity.
  3. Information document containing details of the managers and their powers; information on the members (shareholders) with an indication of the size of their participation interest (shareholdings); information on legal entities, individuals, states and international organisations that control the applicant, whether directly or indirectly; information on the circulation of securities of the legal entity on the regulated securities market with an indication of the total number of such securities; information on subsidiaries.
  4. Information on past activities, including a list of countries in which the Organisation has operated for the last three years.
  5. Number and date of the subsoil use contract or other agreement under which the Organisation is carrying out or has carried out geological exploration / subsoil use operations.
  6. List of key employees (management) of the Organisation with at least ten (10) years of experience in the oil and gas industry, CVs of such employees of the Organisation.
  7. Copies of the audit reports for the period from 2020 to 2022 and a confirmation letter from the audit company on the financial position of the Organisation.
  8. If the Organisation or its Parent Company is on the Forbes list of the world’s largest public companies in the Oil & Gas Operations, a letter from the Organisation or Parent Company with a confirmation link to the source of information referred to in clause 12 of the Requirements.
  9. A written confirmation from the Organisation that all information provided in the documents is true and correct.

All the documents shall be drawn up in Kazakh and Russian. If the documents are submitted by a foreign legal entity, such documents may be drawn up in another language, in which case each document must be accompanied by a translation of the document into Kazakh and Russian, the accuracy of which shall be certified by a notary public.

5) Minimum requirements for the form of cooperation:

  1. Cooperation on the basis of a Joint Venture.
  2. The share of JSC NC “KazMunayGas” in the project shall not be less than 50 %.
  3. The minimum work programme shall include drilling of two (2) exploration wells (the first well with a depth of 3,500 metres and the second well with a depth of 4,500 metres) and a 3D seismic survey of 432 square kilometers.

6) Procedure and deadline for Organisations to submit applications for the joint implementation of the new subsoil use project Bolashak:

Organisations shall submit their application with the documents confirming their compliance with the Requirements to the applicants attached not later than thirty (30) calendar days from the date of publication of the announcement on the search for a strategic partner for joint implementation of the new subsoil use project, Bolashak.

Address of JSC NC “KazMunayGas”: 8 Kunayev Street, Block B, Emerald Quarter Administrative Building, Essil District, Astana, 010000, Republic of Kazakhstan.

7) Conditions and procedure for identifying a strategic partner for the joint implementation of the Bolashak project:

After the expiry of thirty (30) calendar days from the date of publication of this announcement, the acceptance of applications from Organisations will be stopped, which will be noted on the corporate website of JSC NC “KazMunayGas”, www.kmg.kz.

Applications submitted by Organisations with the attached documents within the established deadlines will be reviewed by JSC NC “KazMunayGas” for compliance with the Requirements.

In the event of non-compliance with clause 12 of the Requirements, the Organisation or its Parent Company will be required to make a security deposit for participation in the process of identifying a strategic partner in the amount of one million US dollars (US$1,000,000) for the Bolashak Project, and use an escrow account or provide a bank guarantee or a guarantee from the Parent Company/Affiliate (with sufficient solvency) to secure the monetary obligations under the Bolashak Project. The security deposit paid for the participation will be refunded to the Organisation once the process of identifying a strategic partner has been completed or the search for a strategic partner has been considered failed.

Bank details of JSC NC “KazMunayGas”

Account Owner: JSC NC “KazMunayGas”

BIN 020240000555

Bank: Halyk Bank of Kazakhstan JSC

Account number (USD): KZ406010111000002040

Account number (KZT): KZ356010111000002033

Swift BIC: HSBKKZKX

CBe 16

* * *

The list of eligible Organisations will be published on the corporate website of JSC NC “KazMunayGas”, www.kmg.kz.

JSC NC “KazMunayGas” will send a Memorandum of Understanding and a Confidentiality Agreement to the eligible Organisations to be signed. These documents define the further procedure for attracting and identifying a strategic partner for the joint implementation of the new subsoil use project, Bolashak.

This announcement was published on the corporate website of JSC NC “KazMunayGas” on 13 of September 2023.

JSC NC KazMunayGas

JSC NC “KazMunayGas” is searching for a strategic partner for joint implementation of the new subsoil use project, Bolashak.

1) Name of the new subsoil use project (subsoil site) — Bolashak, subsoil site Bolashak.

2) Location of subsoil sites — Mangistau Region (partly located in the Kazakhstan sector of the Caspian Sea). The subsoil site is included in the State Fund Management Programme with the indication of coordinates and is on the List of subsoil site territory for exploration and production or production of hydrocarbons for granting subsoil use rights to national companies. Please see the link to the document:

https://www.gov.kz/memleket/entities/miid/documents/details/446556?lang=ru

3) Requirements for legal entities (consortium of legal entities) establishing eligibility criteria for the strategic partner of JSC NC “KazMunayGas” for investment financing of the Bolashak Project for the subsequent acquisition of subsoil use rights (the “Requirements”):

These Requirements have been developed in accordance with Code No. 125-VI of the Republic of Kazakhstan dated 27 December 2017 “On Subsoil and Subsoil Use”.

“Organisation” means a Kazakhstani or foreign legal entity (or an association of two or more legal entities).

“Parent Company” means a legal entity that owns 100% of the participation interest (shareholdings) in the Organisation, whether directly or indirectly.

  1. Existence of state registration as a legal entity (extract from the Commercial Register or other legalised document certifying that the applicant is a legal entity under the law of a foreign country), name and location of the Organisation.
  2. Information on managers, legal entities, individuals, states and international organisations that directly or indirectly control the strategic partner.
  3. Information on the past activities of the strategic partner, including a list of countries in which it has operated over the last three years.
  4. The Organisation must not be in liquidation, reorganisation or bankruptcy proceedings.
  5. The Organisation must not have any outstanding arrears in the payment of taxes and other mandatory payments to the budget.
  6. Confirmation of the availability of sufficient financial resources to carry out the work programme, which shall include the scope, description, and schedule of work during the exploration period.
  7. The Organisation must undertake to carry out investment financing of exploration under a joint activity contract (agreement) and/or a financing agreement concluded for the purpose of obtaining the subsoil use rights on the basis of direct negotiations in accordance with the procedure established by Article 103(7) of the Code of the Republic of Kazakhstan “On Subsoil and Subsoil Use”.
  8. The Organisation must undertake to pay the subscription bonus or reimburse the amount of the subscription bonus paid by the national hydrocarbon company.
  9. The Organisation must have positive experience of at least 5 years in exploration and production within the Republic of Kazakhstan and/or abroad.
  10. Availability of qualified professionals (management) in the Organisation with at least ten (10) years of experience in the oil and gas industry.
  11. Sufficient solvency of the Organisation to ensure implementation of the new subsoil use project confirmed by financial statements and other documents. The Organisation’s equity must not be less than one hundred million (100,000,000) US dollars.
  12. If the Organisation or its Parent Company is on the list of the world’s largest public companies in the Oil & Gas Operations according to Forbes (https://www.forbes.com/global2000/list/), clauses 9, 10 and 11 of the Requirements do not apply.

4) List of documents provided by Organisations to confirm they meet the Requirements:

  1. Copy of the certificate (or other document) of state registration (re-registration) of a legal entity, extract from the Commercial Register or other document certifying that the applicant is a legal entity under the law of a foreign state; for a temporary association of legal entities (consortium), a copy of the consortium agreement and copies of the certificates (or other documents) of state registration (re-registration) of the consortium members.
  2. Copy of the Articles of Association approved in accordance with the established procedure; for legal entities registered on the basis of model Articles of Association, a copy of the application of the established form for registration of a legal entity.
  3. Information document containing details of the managers and their powers; information on the members (shareholders) with an indication of the size of their participation interest (shareholdings); information on legal entities, individuals, states and international organisations that control the applicant, whether directly or indirectly; information on the circulation of securities of the legal entity on the regulated securities market with an indication of the total number of such securities; information on subsidiaries.
  4. Information on past activities, including a list of countries in which the Organisation has operated for the last three years.
  5. Number and date of the subsoil use contract or other agreement under which the Organisation is carrying out or has carried out geological exploration / subsoil use operations.
  6. List of key employees (management) of the Organisation with at least ten (10) years of experience in the oil and gas industry, CVs of such employees of the Organisation.
  7. Copies of the audit reports for the period from 2020 to 2022 and a confirmation letter from the audit company on the financial position of the Organisation.
  8. If the Organisation or its Parent Company is on the Forbes list of the world’s largest public companies in the Oil & Gas Operations, a letter from the Organisation or Parent Company with a confirmation link to the source of information referred to in clause 12 of the Requirements.
  9. A written confirmation from the Organisation that all information provided in the documents is true and correct.

All the documents shall be drawn up in Kazakh and Russian. If the documents are submitted by a foreign legal entity, such documents may be drawn up in another language, in which case each document must be accompanied by a translation of the document into Kazakh and Russian, the accuracy of which shall be certified by a notary public.

5) Minimum requirements for the form of cooperation:

  1. Cooperation on the basis of a Joint Venture.
  2. The share of JSC NC “KazMunayGas” in the project shall not be less than 50 %.
  3. The minimum work programme shall include drilling of two (2) exploration wells (the first well with a depth of 3,500 metres and the second well with a depth of 4,500 metres) and a 3D seismic survey of 432 square kilometers.

6) Procedure and deadline for Organisations to submit applications for the joint implementation of the new subsoil use project Bolashak:

Organisations shall submit their application with the documents confirming their compliance with the Requirements to the applicants attached not later than thirty (30) calendar days from the date of publication of the announcement on the search for a strategic partner for joint implementation of the new subsoil use project, Bolashak.

Address of JSC NC “KazMunayGas”: 8 Kunayev Street, Block B, Emerald Quarter Administrative Building, Essil District, Astana, 010000, Republic of Kazakhstan.

7) Conditions and procedure for identifying a strategic partner for the joint implementation of the Bolashak project:

After the expiry of thirty (30) calendar days from the date of publication of this announcement, the acceptance of applications from Organisations will be stopped, which will be noted on the corporate website of JSC NC “KazMunayGas”, www.kmg.kz.

Applications submitted by Organisations with the attached documents within the established deadlines will be reviewed by JSC NC “KazMunayGas” for compliance with the Requirements.

In the event of non-compliance with clause 12 of the Requirements, the Organisation or its Parent Company will be required to make a security deposit for participation in the process of identifying a strategic partner in the amount of one million US dollars (US$1,000,000) for the Bolashak Project, and use an escrow account or provide a bank guarantee or a guarantee from the Parent Company/Affiliate (with sufficient solvency) to secure the monetary obligations under the Bolashak Project. The security deposit paid for the participation will be refunded to the Organisation once the process of identifying a strategic partner has been completed or the search for a strategic partner has been considered failed.

Bank details of JSC NC “KazMunayGas”

Account Owner: JSC NC “KazMunayGas”

BIN 020240000555

Bank: Halyk Bank of Kazakhstan JSC

Account number (USD): KZ406010111000002040

Account number (KZT): KZ356010111000002033

Swift BIC: HSBKKZKX

CBe 16

* * *

The list of eligible Organisations will be published on the corporate website of JSC NC “KazMunayGas”, www.kmg.kz.

JSC NC “KazMunayGas” will send a Memorandum of Understanding and a Confidentiality Agreement to the eligible Organisations to be signed. These documents define the further procedure for attracting and identifying a strategic partner for the joint implementation of the new subsoil use project, Bolashak.

This announcement was published on the corporate website of JSC NC “KazMunayGas” on 13 of September 2023.
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