The documents on establishment of a joint company were signed by "KazMunaiGaz Drilling & Service" LLP and world leader in the sphere of oil and gas drilling Nabors Drilling International Ltd.
First Deputy Minister of Energy of Kazakhstan Uzakbai Karabalin, Chairman of the Board of "KazMunaiGaz" JSC Sauat Mynbayev, general manager for production of "Tengizchevroil" LLP Ted Etchison took part in the signing ceremony.
The document was signed by vice president for production of Nabors Drilling International Ltd John Gass and president of "KazMunaiGaz Drilling & Service" LLP Andar Shuklutov.
The new joint company will be involved in drilling works at the Tengiz deposit within the currently implemented projects and future ones.
According to the agreement, "Tengizchevroil" will cover the expenses for purchase of new drill units for the joint enterprise "KazMunaigaz Nabors Drilling Company". Establishment of the joint company will allow to increase the Kazakh content, adopt the best practices and technologies from Nabors Company and more effectively implement the other projects in the oil and gas sphere in future in Kazakhstan.
The head office of the new joint company will be located in Atyrau.