KazMunayGas suspendă un acord de explorare cu Lukoil în Marea Caspică - Economica.net

The joint project between KazMunayGas and Lukoil for oil exploration in the Al-Farabi area has been suspended due to sanctions against the Russian company. Currently in the geological exploration phase, production activities are halted, but no corporate decisions have been made regarding withdrawal. KazMunayGas holds a 50.01% stake while Lukoil has 49.99%. The Al-Farabi block is located about 130 km offshore in the Kazakh sector of the Caspian Sea, with water depths reaching 600 meters. An audit report indicated a potential joint withdrawal due to low geological success prospects.