The Kazakh Ministry of Energy, state-owned KazMunayGas (KMG) and Italy’s Eni have signed a protocol of direct nego- tiations to grant the subsoil use right for exploration and pro- duction of hydrocarbons on the Abay Block in Kazakhstan’s sector of the Caspian Sea. The Abay Block is located in the northern part of the Kazakh sector of the Caspian Sea, around 50km offshore at a water depth of less than 10m (33ft). The block is estimated to have “significant potential for hydrocarbon resources.”
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