Kurmangazy

This project is being implemented under the following documents:

“Production sharing agreement on the Kurmangazy structure located in the Caspian sea” No. 1787 dated July 6, 2005 between the Ministry of energy and mineral resources of the Republic of Kazakhstan (competent authority) and Joint Stock Offshore Oil Company “KazMunayTeniz”, and RN-Kazakhstan Limited Liability Company (contracting companies) (hereinafter – PSA).
“Supplement No. 1 on introduction of amendments to PSA” dated November 02, 2006;
“Working programme for the exploration period” (Appendix No 2 to PSA);
Joint Venture Agreement for development of Kurmangazy structure located in the Caspian Sea entered into between Joint Stock Offshore Oil Company “KazMunayTeniz” and RN-Kazakhstan Limited Liability Company dated July 6, 2005 (hereinafter — JV Agreement);

Offshore oil operations under the project are carried out by Kazakhstan operating company Kurmangazy Petroleum LLP registered in Aktau city (Mangistau oblast) and being a 100% subsidiary company of JSC OOC “KazMunayTeniz”.

The works under the project are financed by 50% by each of the contracting companies — Joint Stock Offshore Oil Company «KazMunayTeniz" and RN-Kazakhstan LLC.

Works completed under the Project:

Construction of Kurmangazy-1 Exploration Well in the Central Part of the Structure, depth — 2002 m;
2D- Seismic Survey, scope — 2752 linear km;
DNEM Electrical Survey, scope — 1000 linear km; Data Processing and Interpretation;
High-precision Gravimetric and Magnetic Survey; scale 1:100000, scope — 5700 linear km;
Construction of Kurmangazy-2 Exploration Well to the depth of 1600 m in the Northern Part of Kurmangazy structural high;
Completed comprehensive Analysis of Geology and Geophysics Data; mapped 13 structures in Paleozoic and Mesozoic Complexes. Completed Appraisal of Prospective reserves of the area.
Processed and Interpreted Data of Geochemical and 2D-Seismic Survey. Theme-based POS of Pre-Jurassic Complex.

Current Activities

Ground Works to Prepare for Return of Contractual Territory.

Further Plans

Project Completion Activities due to Expiry of the Exploration Period.

Social Commitment

Annual education of Kazakhstan human resources at the cost of the project budget to the amount of USD 1,000 thousand.
Annual implementation of social projects to the amount of USD 300 thousand.