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Chinese offshore giant strikes Kazakh deal on Caspian block

Date: 2025-5-12Source: Edito:

CNOOC Ltd makes upstream debut in Kazakhstan, teaming up with KazMunayGaz to explore acreage in Caspian Sea

Chinese offshore operator CNOOC Ltd has taken a major step in expanding its overseas footprint, making its debut in Kazakhstan’s upstream sector through a strategic partnership with national oil giant KazMunayGaz.

According to Kazakh state news agency Kazinform, the two companies have signed a landmark deal for the joint implementation and financing of the Zhylyoy project in the country's Atyrau region.

In response to Upstream’s inquiry, CNOOC Ltd stated that it "has not yet issued any official announcement either on its website or through the Hong Kong Stock Exchange platform" regarding the project.