PJSC LUKOIL and JSC NC KazMunayGas signed several agreements today in Astana regarding the KalAMKas-Sea, Khazar, Auezov subsoil area development project in the Kazakhstan sector of the Caspian Sea. They define rights and obligations of the subsoil user during joint development activities in the area.
The agreements will come into force following the completion of the sale and purchase transaction between LUKOIL and KazMunayGas that will result in both companies holding equal shares in KalAMKas-Khazar Operating LLC, the operating company for the project.
In late 2021, LUKOIL signed a principles agreement on the KalAMKas-Sea, Khazar, Auezov project and became Kazakhstan's strategic partner in the development of these Caspian offshore subsoil areas.
LUKOIL has been operating in Kazakhstan since 1995. In cooperation with KazMunayGaz, the Company participates in the development of the Karachaganak, Tengiz, Zhenis and Al-Farabi fields, and in joint ventures for the development of the Khvalynskoye and Tsentralnoye fields. It is also a member of the Caspian Pipeline Consortium.
In 2019, LUKOIL opened a lubricants plant in the Almaty region of Kazakhstan. The facility produces 700 types of lubricants, developed with the use of innovative molecular technologies and approved by the world’s leading car manufacturers.