QazaqGaz, Chevron will cooperate in potential geological exploration in Kazakhstan's Zhalibek field – Roman Bilousov

QazaqGaz National Company and Chevron Corporation through its subsidiary Chevron Munaigas Inc. On July 1, they signed a cooperation agreement regarding potential geological exploration at the Zhalibek site in the Aktobe region near the Zhanazhol and Urichtau deposits.

As reported by the press service of QazaqGaz, negotiations and technical preparation of this project continued during the last year. In the initial phase, Chevron will reprocess existing seismic data and develop a technical interpretation. The parties consider the signed agreement as a possible starting point for deepening cooperation.

The agreement was signed by Derek Magness, managing director of Chevron's Eurasian business division, and Sanzhar Zharkeshov, chairman of the board of QazaqGaz. The signing ceremony took place with the participation of the chairman of the state fund "Samruk-Kazyna" Nurlan Zhakupov.

"We are pleased to strengthen our cooperation with QazaqGaz through this important gas project. Our strategic partnership with Kazakhstan spans more than three decades, and this agreement creates new opportunities for the potential development of Kazakhstan's energy sector. Chevron recognizes the importance of gas development and the associated potential opportunities in Kazakhstan's gas industry," Magness said.

The project is implemented with the support of "Samruk Kazyna" and the Ministry of Energy of Kazakhstan.

“We look forward to working with Chevron to explore possible new gas prospects. Further geological exploration and development of a potential gas condensate or oil gas condensate field in the Zhalibek area is expected to increase the base of commercial gas resources and stimulate economic growth in the country. In accordance with the instructions of the President of Kazakhstan to accelerate exploration projects in the gas sector, we are happy to report that the potential of Kazakhstan's gas industry is increasingly attracting international investors and multinational companies," Zharkeshov said.