According to KazMunayGas (KMG), the company recently held talks with CNOOC on the current status and future prospects of bilateral cooperation.
According to KazMunayGas (KMG), KMG Chairman Askhat Khassenov met with CNOOC Chairman Zhang Chuanjiang in Astana, the capital of Kazakhstan. The two sides exchanged views on the implementation of existing joint projects and plans for further cooperation, with particular focus on the Zhylyoi geological exploration project in the northeastern transition zone of the Caspian Sea.
KMG said that an operating company, Zhylyoi Operating LLP, has been established for the project. The parties are currently reprocessing and reinterpreting historical 2D seismic data covering 400 linear kilometres, and preparatory work for a 3D seismic survey covering 400 square kilometres is nearing completion. After the 3D seismic data are processed and interpreted, the location of the first exploration well will be determined.
The project is being implemented on a 50/50 parity basis, with the exploration phase financed by the Chinese side.
Khassenov stated: “We highly appreciate the results achieved in our cooperation. The Zhylyoi project is the first time that CNOOC has participated in a geological exploration project in Kazakhstan through investment, which is of landmark significance. We look forward to further expanding mutually beneficial cooperation with our Chinese colleagues.”
During the talks, the two sides also discussed the feasibility of CNOOC’s participation in other KMG geological exploration projects and held in‑depth exchanges on cooperation in the oilfield services sector.
Under the cooperation agreement previously signed by the two parties, KMG’s subsidiary KMG Drilling & Services is deepening its collaboration with China Oilfield Services Limited (COSL) in areas such as drilling, well workover, application of new technologies, improvement of local content, and talent development.
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Post time: Sep-03-2026