OREANDA-NEWS. June 22, 2010. Within the framework of the 4th Kazakhstan Investment Summit, JSC “National Company “KazMunayGas” and the Norwegian Statoil ASA signed a Memorandum of Understanding in Almaty.

Under the Memorandum of Understanding, the parties plan to conduct evaluation of the hydrocarbon upstream potential both on the territory of the Republic of Kazakhstan, and in other countries. The parties have determined the "Abai" area as a possible potential project for cooperation in Kazakhstan.

An additional condition for entry of Statoil to the "Abai" project is its participation in organization of a drilling club with the interested potential users on construction and operation of a jack-up type of drilling rig in the Kazakhstan sector of the Caspian Sea, and in implementation of infrastructure and social projects in Kazakhstan, incl. financing of the Kazakhstan personnel training.

Within the framework of the Memorandum, JSC NC “KazMunayGas” and Statoil have also reached agreements on exchange of experience in production, transportation and storage of gas, development of the local content share in production of equipment and providing services in the petroleum industry, in the sphere of corporate governance and establishment of corporate structures and processes, etc.