Cabinet of Ministers to discuss document, which allows geological exploration on the Caspian Sea

The Russian Government is about to discuss amendments into the protocol of the agreement with Kazakhstan on the delimitation of the sea floor on the northern part of the Caspian Sea. It will make it possible to carry out additional geological exploration at the site of the structure “Centralnaya”, RIA Novosti reports citing the press-service of the Russian Cabinet of Ministers.

The introduction of amendments into the protocol let the Russian Government to record subsoil license at “Centralnaya” for a period of 25 years, including up to 7 years of geological exploration.

First of all, it will let the company “CentrCaspneftegas”, where LUKOIL and Gazprom has 25% each, KazMunaiGaz – 50%, to carry out extra subsurface survey at this site before the conclusion of PSA with Kazakhstan.

“Besides, the granting of a license will contribute to an attraction of a designated institution of Kazakhstan to the financing of the follow-up subsurface study,” is said in a statement.