KazMunayGas, Sinopec to carry out exploration projects in Kazakhstan

ALMATY. May 18 (Interfax) - Kazakh national oil and gas company KazMunayGas and China's Sinopec International Energy Investment Limited have signed an agreement on cooperation in geological exploration of mineral resources in Kazakhstan, KazMunayGas said in a press release on Thursday.

The document was signed on May 18 during the official visit by President of Kazakhstan Kassym-Jomart Tokayev to China.

According to the agreement, the parties will jointly implement exploration projects at 17 locations in the sedimentary basins in Kazakhstan. Should any of these locations prove to be prospective fields, the parties will consider a possibility of obtaining a license for hydrocarbons exploration and production, according to the press release.