Kazakhstan and South Korea to jointly explore Zhambyl oilfield in Kazakhstan’s Caspian offshore

Kazakhstan and South Korea are expected to start joint exploration works at Zhambyl oilfield in Kazakhstan’s Caspian offshore as early as in 2013, KazTag Agency reports, citing South Korea’s President Lee Myung-bak. “The two sides will start constructing the gas processing and chemicals producing facility in Atyrau ahead of schedule. Starting from early next year the two sides will be working to explore the Zhambyl oilfield. Besides, the two nations will be cooperating in nuclear power industry”, Lee Myung-bak said during the talks with Kazakhstan President Nursultan Nazarbayev. “Apart from that, we hope to strengthen cooperation to produce high-velocity trains and modernize the railroad network”, he added. The sides also have agreed to launch a research park within the Astana-based Nazarbayev University in partnership with the Korean-Kazakh Center for Technology Cooperation launched in August 2012. South Korea’s investments into the Kazakh economy have exceeded $3 billion. “We have agreed to do our best to put in place favorable conditions for cooperation (…) including soonest signing of an agreement on temporary employment”, Lee Myung-bak said.