KMG and Sinopec sign contract to explore and produce hydrocarbons at Berezovsky site

ASTANA. Sept 1 (Interfax) - JSC KazMunayGas (KMG) National Company and China's Sinopec Group have signed a contract to explore and produce hydrocarbons at the Berezovsky site in western Kazakhstan, the KMG press service said.

The company said that KMG CEO Askhat Khasenov met in Beijing with Hou Qijun, chairman of the board of directors at Sinopec Group, which is KMG's strategic partner at the Berezovsky exploration project.

"A contract to explore and produce hydrocarbons has been signed today as part of further implementing the Berezovsky project. This marks an important stage in developing energy cooperation between Kazakhstan and China," the press service said.

"Work is currently underway to establish a project operator that will conduct subsoil exploitation operations," KMG said.

Geological resources at the Berezovsky site could reach 500 million tonnes of equivalent fuel, the company said.

In June 2025, KMG and Sinopec signed joint activity and financing agreements for the Berezovsky project. The companies agreed to implement the project on a 50/50 basis, with Sinopec providing financing for the exploration period.

The minimum work program includes 2D seismic exploration over 300 linear kilometers and 3D seismic exploration over 300 square kilometers, as well as drilling of one exploratory well 7,000 meters deep.

As reported, KMG conducted 2D seismic exploration of the Berezovsky site in 2023-2024 and identified prospects for subsalt deposits in the northern marginal zone of the Caspian basin. According to the study, oil and gas deposits may be located at great depths in complex geological and technological conditions.

KazMunayGas is Kazakhstan's national operator for exploration, production, processing and transportation of hydrocarbons, representing the interests of the government in the oil and gas industry.