Russian "Lukoil" is determined as main developer of Kazakhstani section Kalamkas More

Almaty. February 6. KazTAG - Russia's Lukoil has been named the main developer of the Kazakhstan section of Kalamkas More, reports the Kazakh Energy Ministry.
“The joint dialogue between business entities and the government made it possible to develop a balanced approach between the interests of the state and the investor, to define clear criteria for the complex projects, as well as a temporary package of regulatory and fiscal preferences. The practical result of the above legislative activities was the negotiations held on January 24, 2023 between the Ministry of Energy and JSC NC KazMunayGas on granting the right to subsoil use for the subsoil area Kalamkas More, Khazar, Auezov, located in the Kazakhstani sector of the Caspian Sea (a complex offshore project ). Lukoil, one of the largest public vertically integrated oil and gas companies in the world, has been selected as a strategic partner of the national company in the field of hydrocarbons. On February 6, 2023, the first contract for the production of hydrocarbons was signed, concluded on the terms of the Standard Contract for the Production of Hydrocarbons for Complex Projects," reads the statement.
The Ministry of Energy pointed out that the implementation of this project involves the payment of a signature bonus in the amount of $32 million, attraction of direct investments in the amount of more than $6 billion and the creation of about 2,000 new jobs at the initial stage of the project.

Photo source: picture from an open source