In Beijing, the Chairman of the Board of JSC "NC "KazMunayGas" (KMG) Askat Khasenov held a meeting with Wang Dongqing, the Chairman of the Board of Directors of China National Offshore Oil Corporation International Limited (CNOOC), reports the business information center Kapital.kz, citing KMG.
During the negotiations, the parties discussed key aspects of bilateral cooperation, including the joint implementation of the "Zhylyoi" project.
It is worth noting that in October 2024, KMG and CNOOC signed an agreement outlining the main terms of partnership for the new subsoil use project "Zhylyoi."
According to preliminary estimates by KazMunayGas, the geological resource potential of the subsoil area may exceed 185 million tons of oil.
Additionally, the parties discussed new opportunities for collaboration on other geological exploration projects, as well as strengthening cooperation in engineering with CNOOC's subsidiary service company (COSL China Oilfield Services) in the field of exploration, oil, and gas production.
Following the meeting, the parties confirmed their readiness to further strengthen cooperation and expressed confidence in the successful implementation of joint projects aimed at developing the oil and gas sector and enhancing the strategic partnership between Kazakhstan and China.
For reference: China National Offshore Oil Corporation (CNOOC) is one of the world leaders in the oil and gas industry, specializing in exploration and production. The company actively collaborates with international partners and participates in the implementation of major projects in more than 20 countries.