As part of the visit of the China National Petroleum Corporation (CNPC) delegation to Kazakhstan, led by CNPC Chairman Dai Houliang, a signing ceremony was held for a framework cooperation agreement between QazaqGaz and CNPC-Aktobemunaigas. The agreement outlines plans for subsurface exploration at the “Northern-1” block in the Aktobe region.
The document was signed by Ulan Burkitov, Deputy Chairman of the Management Board of QazaqGaz for Exploration and Strategic Projects, and Li Shufen, General Director of CNPC-Aktobemunaigas. The ceremony was attended by Sanjar Zharkeshov, Chairman of the Management Board of QazaqGaz, and CNPC Chairman Dai Houliang.
The agreement paves the way for joint geological exploration at the “Northern-1” block, with the project to be 100% carry-financed by the Chinese partner.
“Northern-1” is considered a promising site for gas reserves exploration in Kazakhstan. Under the carry-financing model, CNPC will cover all upfront costs, significantly reducing financial risk for the Kazakh side.
CNPC already maintains a strong presence in Kazakhstan’s oil and gas sector, spanning upstream, midstream, and downstream operations. This new agreement with QazaqGaz marks another step forward in strengthening the strategic energy partnership between the two countries.
CNPC (China National Petroleum Corporation) is a major state-owned energy company and the largest oil and gas producer and supplier in China. As one of the world’s leading integrated energy groups, CNPC operates in over 30 countries globally.
