Karazhanbasmunai Granted Extension of Subsurface Use Contract
Source: www.gulfoilandgas.com 7/2/2015, Location: Asia
KazMunaiGas Exploration Production (KMG EP) is pleased to announce that an addendum has been signed to extend the contract for the production of raw hydrocarbons at Karazhanbas oil and gas field of Mangystau Province to the 7th of June 2035. The addendum to Contract No.60 dated 23 May 1997 between the Kazakh Ministry of Energy and Karazhanbasmunai (“KBM”) where KMG EP holds 50 percent stake was signed on 26 June 2015. Previously the KBM contract was valid until 2020.
