Eni Bags Kazakh Caspian Block

摘要

Eni has signed a 50-50 deal with Kazakhstan’s Kazmunaigas (KMG) to develop the Abay Block in the northern Kazakh sector of the Caspian Sea. The Abay exploration tract, located 50 kilometers off the coast in water depths of less than 10 meters, is thought to have “significant potential for hydrocarbon resources,” the company said. Eni will carry KMG’s share of the costs during the exploration period. And in order to maximize operational efficiency, the block will be operated by the duo’s jointly owned Isatay Operating Co., which operates the Isatay Block.