Kazakhstan Chamber of Commerce in the USA

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Eni, Kazmunaygas enter the deal to explore Isatay block in Caspian sea

Posted on July 24, 2015 by KazCham

Business Intelligence from Colibri Law Firm: Issue #107

Italian Eni S.p.A. announced entering into a joint exploration agreement of Isatay block in the north Capsian Sea with KazMunayGas (KMG), Kazakhstan’s national oil and gas company.

The agreement defines the commercial terms of transfer of 50 percent interest in the Isatay block, believed to hold significant potential oil resources, to Eni.

KMG and Eni will establish a joint operating company, with each holding a 50 percent stake, to operate the block.

 

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