By Saule Tasboulatova
KazMunayGas signed the contract for joint exploration and production at Isatay offshore block. The information was posted on
Isatay block is located in the
It was reported earlier, that exploration and production activities at Isatay block will be carried out jointly by Eni - the largest Italian oil and gas company and KMG. In July of 2009 the companies signed the memorandum of understanding, and a bit later - the Agreement on implementation of exploration activities.
We asked KMG press service to provide comments, but, unfortunately, in the received reply there were no essential details: "Currently it is still not possible to call Isatay block, located in the
According to the contract for the joint exploration and production signed on June 26, 2015, the exploration period of Isatay block started from the date of contract signing and will last for 6 years, plus one possible extension for the period of 2 years. The schedule and work scope of exploration activities is in the work program attached to the contract. Main activities during this period will be seismic exploration and drilling of appraisal well. The volume of investments into Isatay project is directly connected with the results of exploration activities at the block".