Source Pravda.Ru

Russian and Kazakh Companies Talk about Mutual Exploration of Kazakh Part of the Caspian Sea Shelf

On Thursday, in an interview with Russian press, President of Kazakhstan Nursultan Nazarbayev announced that Russian and Kazakh companies conducted talks about closer cooperation in the exploration of the Kazakh part of the Caspian Sea shelf.

According to Mr. Nazarbayev, Russian oil company LUKoil invested more than a billion US dollars in the project. The plans for joint project were drawn after both countries had signed an agreement on mutual exploration of the Caspian Sea median, pointed out the president.

He also said that, according to the agreement reached between the two countries last year, 15 million tons of oil would be transported from Kazakhstan to the West through Russian territory.

In Mr. Nazarbayev's opinion, the export of Kazakh gas through Russia is also carried out "without problems". Besides, Kazakhstan is currently involved in negotiations with Russian UES company about new joint projects in the sphere of energy industry, announced the President of Kazakhstan.