Lukoil, KazMunayGaz mull Kazakh block JV

Lukoil and KazMunayGaz have signed a heads of agreement calling for negotiation of mineral rights on the I-P-2 block offshore Kazakhstan. The block is 130 km off Aktau in 300-400 m of water. Lukoil said 2D seismic surveys have been shot over the area.

Lukoil and KazMunayGaz have signed a heads of agreement calling for negotiation of mineral rights on the I-P-2 block offshore Kazakhstan.

The block is 130 km off Aktau in 300-400 m of water. Lukoil said 2D seismic surveys have been shot over the area.

The next step will be conclusion of a contract for hydrocarbon exploration and formation of a joint venture in charge of block operations.

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