KMG, Croatia's Geoenergija Razvoj create JV for hydrocarbon exploration at Shygys block in Kazakhstan

ASTANA. Aug 12 (Interfax) - Kazakhstan's JSC KazMunayGas (KMG) and the Croatian company Geoenergija Razvoj d.o.o have registered the joint venture Shygys Operating LLP, which will serve as the operator for geological exploration at the Shygys subsoil block in Kazakhstan's Aktobe region, KMG's press service said.

Nurlan Konysov, who has many years of experience within KMG, was elected the general director of Shygys Operating by decision of the general meeting of participants.

The contract for the exploration and production of hydrocarbons at the Shygys block was signed between the Kazakh Energy Ministry, KMG and Geoenergija Razvoj d.o.o. in early April 2026 in Astana at the Geoscience & Exploration Central Asia international geological forum. The Croatian company is entering the geological exploration sector of Kazakhstan for the first time, KMG said.

It was reported at the time that the Shygys project will be implemented on a parity basis (50/50), while the Croatian side will provide full financing of the geological exploration phase. The minimum work program includes conducting 2D seismic survey in the amount of 500 km and drilling one exploration well with a depth of 3,500 m.

The area of the Shygys license block is 2,420 sq. km. Administratively, it is located on the territory of the Temir, Bayganin and Mugalzhar districts of the Aktobe region of Kazakhstan.

KazMunayGas is Kazakhstan's national operator for exploration, production, processing and transportation of hydrocarbons, representing the interests of the state in the oil and gas industry.

Geoenergija Razvoj d.o.o is a 100% subsidiary of the Croatian Hydrocarbon Agency (CHA).