The Zhylyoi subsoil area is located partially in the Atyrau region and partially in the Kazakhstan sector of the Caspian Sea.
CNOOC's wholly owned subsidiary, CNOOC Hong Kong Holding Ltd., has entered into a contract for exploration and production of hydrocarbons on the Zhylyoi subsoil area with the Ministry of Energy of the Republic of Kazakhstan and KazMunayGas (KMG).
Zhylyoi is found partially in the Atyrau region and partially in the Kazakhstan sector of the Caspian Sea, with an area of about 958 sq km.
According to the terms of the contract, the first stage of the exploration period will be nine years.
CNOOC Hong Kong Holding Ltd. and KMG will each hold 50% interests, and the two parties have agreed to establish a joint operating company and act as the operator.
