Lukoil and KazMunayGas have signed a joint operating agreement and finance agreement covering exploration and development of the Zhenis license area of the Caspian Sea off Kazakhstan.
The companies agreed in principal earlier this year to form a partnership to seek exploration and production rights on the block, in 75-100 m of water 80 km offshore (OGJ Online, June 5, 2018).
The companies next will negotiate a hydrocarbon exploration and production contract with the Kazakh Ministry of Energy.
