KazMunaiGas, ENI sign agreement on shipyard construction
In accordance with the signed agreement, both of the companies confirm their readiness to implement "Issatay" and "Shipyard" projects. Under the KazMunaiGas's "Issatay" project and ENI agreed to conduct exploration work on the same block in the northern part of the Kazakh sector of the Caspian Sea.
As the report said, the parties have determined that a joint operating company will carry out exploration. The KazMunaiGas and ENI started their work with the Ministry of Oil and Gas in order to obtain the right for subsoil use. Both of the companies hope that the "Issatay" project will be successful, and KazMunaiGas and ENI will be able to announce about the commercial discovery in accordance with the geological exploration results.
The agreement also provides for the implementation of the project on the construction of shipbuilding / shipyard in Kuryk settlement on the Caspian coast of the Mangistau region ("Shipyard"). In accordance with the signed agreement, the financing of the construction of the plant will be provided by the KazMunaiGas and ENI, and a joint project company will be created for management. ■