Kazakhstan and Croatia Discuss Cooperation in Geological Exploration
Kazakhstan’s national oil and gas company KazMunayGas (KMG) and the Croatian Hydrocarbon Agency (CHA) have agreed to strengthen cooperation in the field of geological exploration. The agreement was announced following a meeting held in Astana on Dec. 15 between KMG Chairman Askhat Khassenov and CHA President Marijan Krpan.
The discussions focused on finalizing documentation related to the Shygys geological exploration project located in Kazakhstan’s Aktobe Region.
According to KMG, the Croatian side expressed strong interest in the project after reviewing geological materials presented during the company’s international roadshow. Independent assessments conducted by Croatian specialists confirmed the geological prospects and investment attractiveness of the Shygys site.
As part of efforts to identify a strategic partner, Geoenergija Razvoj d.o.o., a subsidiary of the Croatian Hydrocarbon Agency, has submitted an official application to participate in the project. The parties are currently finalizing key documentation, including agreements governing joint activities and financing arrangements.
In parallel, KMG continues geological work at the Shygys site, including the reprocessing of archival 2D seismic survey data. These activities form part of a broader subsurface evaluation aimed at refining resource estimates and supporting the project’s next stages of development.
Photo credit: KazMunayGas
