Negotiations on cooperation between SOCAR and Kazakhstan regarding the “Dunga” oil field are in an active phase, said Kazakhstan’s Minister of Energy, Yerlan Akkenzhenov, APA’s correspondent dispatched to Astana reports.
According to him, the strategic importance of the field indicates that energy cooperation between the two countries has entered a new phase: “The Dunga field is extremely favorable from both geological and technical perspectives. The quality of the oil is excellent — it is light, low in sulfur, and extremely suitable for processing. This is a rare advantage.”
The minister noted that specific commercial negotiations on the development of the field are currently being held between KazMunayGas and SOCAR: “This is a commercial agreement, and as the institution implementing state policy, the Ministry of Energy does not interfere in such negotiations. The details of the cooperation are agreed solely between KazMunayGas and SOCAR.”
Note that the Dunga field is located in the Mangystau region and has an estimated 106 million tons of oil and 6 billion cubic meters of gas reserves. It is operated under a production sharing agreement signed in 1994. In 2023, KazMunayGas acquired a 60% stake in the field. Currently, Oman Oil and Partex Kazakhstan also participate in the project, each with a 20% stake.
Recall that SOCAR’s participation in this project could contribute to the deepening of energy cooperation in the South Caucasus and Central Asia regions.
Ramiz Mikayiloglu
Ilgar Khudiyev
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