Operating activities

Abay project

The Abay project is being implemented in accordance with the Contract No. 4752-UVS-ME dated July 26, 2019 for exploration and production of hydrocarbons at the Abay area in the Kazakhstan sector of the Caspian Sea between the Ministry of Energy of the Republic of Kazakhstan (Competent Authority), the National Company KazMunayGas JSC and Eni Isatay B.V. (hereinafter - the Contract); the related Joint Operating Agreement is dated on March 11, 2019.

The Сontract is concluded for a period of 31 years, which consists of the following periods:

(1) exploration period is 6 years (with a possibility of extension for 9 years for evaluation and test production);

(2) production period is 25 years, including a preliminary period of up to 3 years, subject to compliance with the requirements of Article 119 of the Code of the Republic of Kazakhstan No. 125-VI ZRK "On Subsoil and Subsoil Use" dated December 27, 2017.

Subsoil users:

NC KazMunayGas JSC - 50%,
Eni Isatay B.V. - 50%

Operator - Isatay Operating Company LLP

General information:

Location: North-Eastern part of the Kazakhstan sector in the Caspian Sea

Contract area - 1233.87 sq. km.

Water depth: 6 - 9 m.

Distance to logistics base (Bautino): 160 km.

Main research targets within the post-salt complex of the Abay area are Cretaceous and Jurassic terrigenous deposits.

Operation details:

• Environmental monitoring is performed by climatic seasons
• Exploration plan of the Abay area has been approved
• Technical project with EIA for conducting site survey at the drilling well location has been approved
• Technical project with EIA for the well construction has been approved
• Site surveys have been implemented at the drilling well location in 2020 and 2024
• Environmental monitoring was performed during site survey
• Measures have been taken to release young sturgeon species in the Zhaiyk river as part of compensation for damage to fishery resources during site survey
• Long lead items have been purchased
• Geomechanics survey of geological data has been conducted
• Drilling rig was inspected
• Blowout safety plan was developed
• Relief well plan and ejection velocity modeling have been developed to ensure readiness for emergency well killing using an additional rig
• Environmental control program has been developed, industrial environmental monitoring has been performed at the Abay area (summer, autumn).

• Pre-drilling activities
• Exploration Drilling operations (3rd quarter 2024)