KazMunaiGas wants to create JV with ExxonMobil for oil engineering

/Almaty bureau REUTERS, October 16, 02/ - Kazakhstan state oil and gas company KazMunaiGas will offer American ExxonMobil to create in Kzaakhstan a joint venture in order to work in the sphere of geophysics and oil engineering, said the company's representative. "It's the matter of geophysics", - an official of Kazmunaigas's press-service informed Reuters, having given no details. - "Our country (also) offers to develop oil engineering". According to his words, President of KazMunaiGas Lyazzat Kiinov intends to turn to ExxonMobil with the same offer, but it is not clear when communications will be held. Kazmunaigas was founded in the beginning of 2002 by means of joining of oil producing state company Kazakhoil and holding Transport of oil and gas, which comprised Kaztransoil and Kaztransgas. Kazmunaigas has been authorized to act for interests of Kazakhstan in all oil projects on the Caspian shelf. ExxonMobil is a participant of two largest oil projects in Kazakhstan - Tengizshevroil and PDA (production division agreement) on the North Caspian Sea. The company possesses 25% in Tengizshevroil, ChevronTexaco - 50%, Kazakhstan - 20%, LUKARCO - 5%. Kazakhstan's partners in the PDA on the North Caspian Sea, besides ExxonMobil with the share of 16.67%, are: Eni (16.67%), BG Group (16.67%), TotalFinaElf (16.67%), Shell (16.67%), and also Inpex and Phillips, which have 8.33%. [2002-10-16]