KMG and CNOOC discuss expanding cooperation
- Zhylyoi project is in active implementation with 400 linear km of historical 2D seismic data being reprocessed and reinterpreted.
- Field 3D seismic exploration covering 400 km2 is scheduled to begin by the end of 2026.
- The Zhylyoi project is a 50/50 parity venture with exploration financing provided by a Chinese company.
- KMG Drilling & Services and COSL will deepen cooperation across drilling, well services, technology transfer, local content and human resource capacity building via a special educational program.
Meeting overview
KazMunayGas Head Askhat Khassenov and CNOOC Chairman Chuanjiang Zhang met in Beijing to review ongoing joint projects and prospects for further cooperation, confirming interest in expanding mutually beneficial collaboration across key areas.
Subsidiary cooperation
KMG Drilling & Services and China Oilfield Services Limited (COSL) are strengthening cooperation on drilling and service operations for international projects. The parties plan to develop drilling, well services, technology transfer, local content development and human resource capacity through a special educational program. KMG Engineering and COSL have begun joint work to implement new technologies in well development, drilling and workover.
Zhylyoi exploration project
The Zhylyoi joint exploration project in the transit zone of the northeastern Caspian Sea is in an active implementation phase. Work is underway to reprocess and reinterpret 400 linear kilometres of historical 2D seismic data, and field 3D seismic exploration covering 400 km2 is scheduled to begin by the end of 2026. The project is implemented on a parity (50/50) basis, with exploration financing provided by a Chinese company; it is the first major instance of CNOOC investing in exploration in Kazakhstan.
Next steps
The parties also discussed cooperation on other promising exploration projects and confirmed their interest in expanding collaboration across all key areas.
Source: KMG
