QazaqGaz and Chevron Corporation, through its subsidiary Chevron Munaigas Inc. have formalized a cooperation agreement that could lead to geological exploration at the Zhalibek site in the Aktobe region near the Zhanazhol and Urikhtau fields.
Initially, Chevron will be responsible for reprocessing existing seismic data and developing detailed technical interpretations. Negotiations and technical preparations for this project have been carried out over the past year. The parties involved believe that this agreement could be the beginning of a broader collaboration.
The vision of companies regarding gas exploration
Derek Magness, General Manager of Chevron’s Eurasia Business Unit, expressed his satisfaction at strengthening cooperation with QazaqGaz through this gas project. He highlighted that Chevron’s strategic partnership with Kazakhstan has endured for more than three decades and this new agreement opens up significant opportunities for the advancement of the country’s energy sector.
According to Magness, Chevron recognizes the importance of gas development and the potential opportunities this sector offers in Kazakhstan.
For his part, Sanzhar Zharkeshov, Chairman of the Board of Directors of QazaqGaz, expressed his anticipation of working with Chevron to discover new gas prospects. Zharkeshov indicated that geological exploration and development of a potential gas condensate or oil and gas field at Zhalibek could enhance the commercial gas resource base and boost the country’s economic growth.
He also stressed that, following the Head of State’s directive to accelerate exploration projects in the gas sector, the potential of Kazakhstan’s gas industry is increasingly attracting international investors and multinational companies.
This project at the Zhalibek site is part of a broader plan to expand gas capacity and infrastructure in Kazakhstan. The collaboration between QazaqGaz and Chevron is a significant step towards harnessing the country’s natural resources, which is crucial to its long-term economic development.
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Source and photo: worldoil
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