“KazMunayGas” and “Uzbekneftegaz” Sign Agreement on Principles for the “Zharkyn” Project

Tashkent, Uzbekistan (UzDaily.com) — Today in Tashkent, during the state visit of President of Kazakhstan Kassym-Jomart Tokayev to Uzbekistan, an Agreement on Principles for the “Zharkyn” project was signed between JSC NC “KazMunayGas” (KMG) and JSC “Uzbekneftegaz” (UNG).

The document was signed by KMG Chairman of the Board Askhat Khasenov and UNG Chairman of the Board Bahodirjon Sidikov.

The Zharkyn block is located in the Mangistau region. Previously, as part of geological exploration, KMG conducted 2D seismic surveys covering 1,275 line-kilometers, which identified promising structures. Under the agreed terms, KMG and UNG plan to drill two exploration wells, each 2,000 meters deep.

Zharkyn marks the first joint geological exploration project between the national oil and gas companies of Kazakhstan and Uzbekistan. The initiative aims to strengthen energy cooperation between the two countries. The agreement establishes key parameters of the strategic partnership: the project will be implemented on a 50/50 parity basis, with the Uzbek side providing financing for the exploration phase.

KazMunayGas continues to expand its geological exploration activities both independently and jointly with international partners. It is noted that global investor interest in Kazakhstan’s exploration projects has increased due to KMG’s roadshows and advanced seismic studies conducted in western regions as part of the country’s subsurface exploration program.