BG; Kazakhmunaygaz link for upstream cooperation - Kazakhstan

The following item is taken from the IOL Vol 24 issue 50 dated 15th December 2008

Building on its 15-year association with Kazakhstan in which it has become joint operator of the giant Karachaganak gas/condensate field and has secured equity in the Caspian Pipeline Consortium (CPC), BG has now signed agreements with KazMunayGas to cooperate in exploring a range of upstream opportunities.  The agreement sets out the principles of a joint study of the hydrocarbon reserves potential of specific areas in Kazakhstan and other countries.

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The companies will work in partnership to identify opportunities across a range of potential oil and gas exploration and production projects. A joint team will examine specifically targeted regions and recommend prospective acreage to partners for their consideration.  KazMunayGas sees this deal as accelerating its strategy for international growth and an opportunity to join large-scale international projects and achieve a new level of development.

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