The Isatay project is being implemented in accordance with the Contract No. 4160-UVS-ME dated June 26, 2015 for joint exploration and production of hydrocarbons at the Isatay area in the Kazakhstan part of the Caspian Sea between: the Republic of Kazakhstan represented by the Ministry of Energy of the Republic of Kazakhstan as competent authority, and National Company KazMunayGas JSC, hereinafter referred to as the Subsoil User, (hereinafter - the Contract) and the Joint Operating Agreement dated December 21, 2017.
The Contract is concluded for the period necessary for exploration, and in case of hydrocarbons detection – for the period necessary for evaluation and production, in accordance with the project documents.
The Contract term for conducting exploration work during offshore petroleum operations was 6 years and was extended by competent authority for two years
Subsoil users:
NC KazMunayGas JSC - 50%, Eni Isatay B.V. - 50%
Operator - Isatay Operating Company LLP.
Operational management body:
Isatay Project Operating Committee
General information:
Location: North-Eastern part of the Kazakhstan sector in the Caspian Sea
Contract area - 1,348 sq. km.
Water depth: 2.7 – 6.3 m.
Distance to logistics base (Bautin): 180 km.
Main research objects within the above-salt complex of the Isatay area are Cretaceous, Jurassic and Triassic terrigenous deposits
Operation details:
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), National Company KazMunayGas JSC, Eni Isatay B.V. (hereinafter - the Contract) and the Joint Operating Agreement dated 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
Operational management body:
Abay Project Operating Committee
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 (Bautin): 160 km.
Main research objects within the above-salt complex of the Abay area are Cretaceous, Jurassic and Triassic terrigenous deposits
Operation details:
Planned operations: