REPSOL EXPLORACION KAZAKHSTAN S.A.

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03.02.2009 00:23

"We consider Kazakhstan a priority country in our strategy for consolidation and growth in Central Asia".

Repsol is involved in the Republic of Kazakhstan since 1998, when the Almaty office was opened for completing negotiations and managing the Baiga-ninsk Block located in the Aktubinsk province. In 1998, this block was awarded to the consortium that comprises Repsol (60% operator) and Enterprise Oil (actual Shell) (40%). After completing all requested acquisition and seismic processing in 2000, the drilling of two wells (Oymaut-1 & Koyantakyr ■1) in 2002, and a final Geological & Geophysical evaluation in 2003, due to negative exploration results this Block was relinquished in 2004. As a contribution to the regional evaluation of the country potential, a complete geological study report of the Baiganinsk area was delivered to the National Geological Committee.
During its activity in Baiganinsk, and under the terms of the Subsurface Use Contract, Repsol contributed significantly to the development of the Aktobe social infrastructure and successfully fulfilled a training program for the Kazakhstan community.
During 2003 and 2004, Repsol Exploration in Kazakhstan together with KazMuaniGaz E&P, completed a joint geological and petrophysical study that included a reservoir model, in the Emba field area of the Pre-Caspian basin, under a cooperation agreement (MOU) designed to help the National Company to identify areas of improvement for production enhancement developments.
In 2004, Repsol Exploration Kazakhstan S.A. commenced a technical evaluation of the Zhambay project in the North Caspian waters. During 2005, commercial negotiations were completed, and in 2006, the contractual documents were signed for a 25% participation in the project. In 2007, The Ministry of Energy and Mineral Resources and the Anti-trust Authorities approved this transaction.