KazMunayGas, Tatneft to start geological exploration in western Kazakhstan

Kazakhstan's national company KazMunayGas and Russian Tatneft plan to begin geological exploration work at the "Karaton Subsalt" site in western Kazakhstan in November, Report informs referring to the KMG's announcement.

"KazMunayGas Board Chairman Askhat Khasenov held a meeting with Tatneft CEO Nail Maganov on October 30. The meeting discussed the progress of preparatory work for drilling the first exploration well with a depth of 5,500 meters at the Karaton Subsalt site. Currently, drilling equipment is being installed at the site. Drilling is scheduled to begin in November 2024," the report states.

The parties also discussed prospects for cooperation in the petrochemical sector. According to the company, the Karaton Subsalt site is located in the Atyrau and Mangistau regions, adjacent to the existing fields of JSC Embamunaigas.

On February 21 of this year in Kazan, KMG and PJSC Tatneft signed a Purchase Agreement, Shareholders Agreement, and Financing Agreement for the Karaton Subsalt project.