National oil and gas company KazMunayGas (KMG) and Shell Kazakhstan signed a Memorandum of Understanding (MoU) on joint development plans in the country, QazMonitor reports.
The document specifies the following areas in which the parties intend to cooperate:
— geological exploration and development, including a comprehensive survey of promising regions and a geological study of the subsurface resources of Kazakhstan
— joint project development
— an analysis of recent developments in the industry, including contracting and procurement, environmental standards, and other aspects of regulation that have the potential to improve and accelerate the growth of the nation's industry
This partnership will use KMG's database of active exploration and prospective projects as part of the feasibility assessment.