Drilling of the first exploration well started in «Khazar» in the «Pearls»

24 august 2007

On August 24, 2007 drilling of the first exploration well started in «Khazar» in the «Pearls» contract area, located in Kazakhstan Sector of the Caspian Sea. Drilling is conducted by means of «Astra» jack-up.

«Caspi Meruerty Operating Company  B. V.» is the «Pearls» project Operator. The company in the performance of drilling activities follows and meets all requirements of environmental laws of the Republic of Kazakhstan. Performing offshore operations the principle — «zero discharge of pollutants» will be observed. Drilling will be accompanied by environmental monitoring.

Production Sharing Agreement (PSA) in the «Pearls» contract area, located in the northern part of the Caspian Sea, was signed on December 14, 2005. The PSA parties are Ministry of Energy and Mineral Resources of the Republic of Kazakhstan and subsoil users: JSC OOC «KazMunayTeniz» — 25 %, Shell EP Offshore Ventures Limited — 55% and Oman Pearls Company Limited- 20%.


«Caspi Meruerty Operating Company  B. V.» was established on January 8, 2007 in accordance with the laws of the Kingdom of the Netherlands. In April this year the branch office of the company was registered in Aktau (Mangistau oblast). The founders of «Caspi Meruerty Operating Company  B. V.» are: Shell EP Offshore Ventures Limited — 40%; Oman Pearls Limited- 20%; JSC OOC «KazMunayTeniz»-40%.

Joint Stock Company Offshore Oil Company «KazMunayTeniz», established on March 14, 2003, is a 100% subsidiary of JSC NC «KazMunayGas».

Shell EP Offshore Ventures Limited is a member of Shell group of companies.
Oman Pearls Limited, private company with limited liability, registered on November 2, 2005 according to the laws of England and Wales, is a 100% subsidiary of «Oman Oil Company», located in Sultanate of Oman.

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