energy

Kazakhstan in talks with Statoil over offshore block

By SRI ⋅ February 10, 2010 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

(SRI) - Kazakhstan’s Ministry of Energy and Mineral Resources (MEMR) holds talks with Statoil, Norway’s national oil company, about development of the Abay offshore block, Energy Minister Sauat Mynbayev said on Tuesday without providing details.

“We continue to work, particularly on the Abay block. The question of Kazakhstan’s content in the project has not been negotiated,” local media reported Mynbayev as saying.

The Abay block is located in the offshore area of the Kazakh sector of the Caspian Sea, 60-70km northwest of the Buzzachi peninsula. Its reserves are estimated at 387 million tons (2.8 billion barrels).

Tags: oil, Statoil

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