Russian oil major Lukoil and Kazakh national oil and gas company KazMunaiGaz signed a memorandum on cooperation in the Caspian Sea on Monday
Published:
16 February 2003 y., Sunday
The document - a memorandum of mutual understanding in the area of cooperation in the exploration and development of hydrocarbons in the Kazakh and Russian sectors of the Caspian Sea - was signed by the chiefs of the two companies - Vagit Alekperov and Lyazzat Kiinov.
According to the memorandum, the sides should set up a working group to manage joint projects in the Caspian within 15 days.
Meanwhile, KazMunaiGaz said in a press release that the memorandum is restricted in terms of time - its lasts until November 30, 2003. By this time the sides have promised to reach agreement on setting up a joint venture to carry out geological exploration work and production in the Caspian.
The memorandum notes that KazMunaiGaz and Lukoil have the significant financial resources, technical potential and experience needed to effectively implement the offshore oil and gas projects.
As reported earlier, in the middle of last year the Russian and Kazakh presidents agreed on the division of the Northern Caspian and on the joint develop of three border structures - Tsentralnoye, Khvalinskoye (both belonging to Russia) and Kurmangazy (Kazakhstan).
Šaltinis:
Interfax
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »