BP has withdrawn from negotiations on development of certain projects in the Kazakh sector of the Caspian Sea.
In a letter sent to JSC KazMunaiGas October 2020 and published by the state-owned company Mar. 9, BP noted “significant changes” to its strategy and its plans to focus a greater proportion of capital to renewable energy and hydrocarbon basins in which the company already operates for its decision.
As noted in the letter, the companies had been working together for 18 months to evaluate opportunities in the Greater Zhambyl, Pearls, and Kalamkas-sea blocks.
