KazMunaiGaz and Naftogaz Ukrainy Ink Deal on Aral Sea Exploration

KazMunaiGaz and Naftogaz Ukrainy signed a Memorandum of Understanding to carry out a technical and economic assessment of the potential of the Kulandy structure located in the Kazakhstan sector of the Aral Sea, with a view to further define the terms for joint prospecting on the structure.

This document is the first step in realization of the agreements achieved by the President of the Republic of Kazakhstan Noursultan Nazarbaev and the President of Ukraine Victor Yushchenko in 2005.

The joint activity of KazMunaiGaz and Naftogaz Ukrainy in the framework of the Memorandum of Understanding will allow the two companies to clearly outline the prospects for cooperation and determine the direction of the future joint activity in the oil-and-gas sector.