A joint operating committee (JOC) between the two companies will operate the block, which is thought to hold potential for large hydrocarbon resources.
The JOC will make use of Eni’s proprietary technologies for exploration and working in challenging technical and environmental areas such as the Caspian basin, pending approval for the license transfer by the Republic of Kazakhstan.
In addition, Eni and KMG subsidiary KazMunayGas EP have agreed to expand their upstream technology cooperation and evaluate potential joint developments in new projects.
Along with the Ministry of Energy, KMG, and the Kazakh Committee of geology and subsoil use, Eni signed a memorandum of understanding to assess future cooperation terms in the Kazakh-Russian Pre-Caspian basin where numerous large oil fields have been discovered.
The MoU is part of the Eurasia project promoted by the Ministry of Energy to study the depth exploration potential of the basin.
Offshore Indonesia, Eni has completed the first shipment of LNG from the newly onstream deepwaterJangkrik field to Indonesia’s domestic market.
The 22,500-cu m (794,580-cf) cargo left the Bontang Liquefaction Plant, in East Kalimantan, and headed to Bali, to be unloaded as part of a long-term LNG contract signed withPT Pertamina in June 2015.
Produced gas produced is processed onboard the FPUJangkrik, then flows to the onshore receiving facility for onward delivery to Bontang via the East Kalimantan Transportation System.