No Hydrocarbons at Zhenis Offshore Project, KazMunayGas says

Vladimir Soldatkin
Wednesday, July 12, 2023

Kazakhstan's state energy company KazMunayGas KMGZ.KZ said on Tuesday that exploration drilling showed no hydrocarbons at the offshore Caspian Sea project Zhenis where it has been jointly working with Russian oil producer Lukoil LKOH.MM.

Interfax news agency said, citing KazMunayGas, that the project would be closed.

KazMunayGas declined additional comments. Lukoil has not responded to a request for comment.

Lukoil signed a contract for hydrocarbon exploration and development of the Zhenis block in Kazakhstan's sector of the Caspian Sea in 2019. The project's operator is owned by Lukoil and KazMunayGas on equal terms.

(Reuters - Reporting by Vladimir Soldatkin / Editing by Mark Potter)

Categories: Energy Drilling Industry News Activity Caspian Sea

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