Kazakhstan and Norway to agree on Abai Caspian oil block

Kazakhstan and Norway are to coordinate principles of work on Abai, a Caspian oil block, Tengrinews.kz reports, citing the Press Service of KazMunaiGaz. KazMunaiGaz and Statoil of Norway have signed an agreement in principle with regards to Abai Caspian oil block, the Kazakh company said in a statement. “We are interested in cooperation with Statoil, its best practices, technology and experience in maritime O&G projects. This agreement confirms intention of the two companies to expand strategic cooperation at the Caspian Sea”, KazMunaiGaz Head Kabyldin was quoted. “Cooperation on Abai Caspian oil block is an important step for Statoil to international growth. This agreement marks returning of Statoil to Kazakhstan. I am glad we managed to forge a reliable partnership with KazMunaiGaz”, Tim Dodson, Senior Vice President Exploration for Statoil, said. The companies agreed on Norway’s participation in construction of a jack-up drilling rig to be used for developing Caspian offshore oil blocks. The next step would be negotiations with Kazakhstan’s Ministry of Oil and Gas to obtain rights to develop Abai Caspian oil block. The project envisages training local personnel and financing social projects.