Kazakh govt, Shell's country chair discuss cooperation on Karachaganak, Kashagan fields
ASTANA. June 1 (Interfax) - Kazakh First Deputy Prime Minister Nurlybek Nalibayev has met with Shell's Senior Vice President and Country Chair in Kazakhstan Suzanne Coogan to discuss further oil and gas cooperation, including the implementation of joint projects and more investment, the Kazakh government's press service said on Saturday.
The two sides noted the development of the cooperation and the implementation of the agreements reached.
In particular, In March 2026 the Energy Ministry and Shell (SPB: RDS.A) signed a contract for oil and gas exploration at the Zhanaturmys block in the Aktobe region.
Nalibayev stressed the significance of implementing the Zhanaturmys project under an improved model contract.
Separately, Nalibayev and Coogan touched on the implementation of the Karachaganak and Kashagan projects, both of strategic importance to the country's energy industry, and stressed the importance of ensuring stable production performance indicators and further developing the projects.
The repair work at the Karachaganak field planned for this year would not significantly affect oil production, Energy Minister Yerlan Akkenzhenov said last Thursday.
Shell holds stakes in the following Kazakh projects: the North Caspian Production Sharing Agreement (16.81%), the Karachaganak project under a Final Production Sharing Agreement (29.25%) and the Caspian Pipeline Consortium (7.4%).
The Karachaganak field is one of the world's largest. It contains 1.2 billion tonnes of oil reserves and 1.35 trillion cubic meters of natural gas. Its development, under a 40-year PSA signed in 1997, is carried out by the international consortium Karachaganak Petroleum Operating B.V. comprised of Shell (which holds a 29.25% stake through affiliated BG Karachaganak Limited), Eni (29.25%), Chevron (18%), Lukoil [MOEX: LKOH] (13.5%) and KazMunayGas (10%).
Kashagan is considered one of the world's largest oil fields discovered over past decades. It has between 9 billion and 13 billion barrels of proven oil reserves. Commercial production started in the fall of 2016.
The 1,377-square-kilometer Zhanaturmys block is situated in one of the most promising oil and gas basins of Kazakhstan and presents a significant potential for more geological exploration. A work program includes conducting 3D seismic surveys and a potential drilling of a deep exploratory borehole.
