South Korean President Lee Myung-bak said at a meeting with Kazakh President Nursultan Nazarbayev in Astana on Thursday that the joint development of Kazakhstan’s Zhambyl Field in the Caspian Sea will start in early 2013, News Kazakhstan reports.
KazMunaiGaz and the Korean Consortium signed a protocol on Zhambyl in September 2004. KazMunaiGaz received permission to explore at the field in April 2005. KazMunaiGas and the Kazakh Energy Ministry signed a contract on the Zhambyl development on February 27, 2008. Drilling will be organized at Zhambyl and Zhetisu.
A deal on joint realization of Zhambyl was signed in May 2008. Lee Myung-bak said that the two states will cooperate to start the construction of a gas chemical facility in the Atyrau Region ahead of schedule.
