Astana: Negotiations on cooperation between SOCAR and Kazakhstan regarding the ‘Dunga’ oil field are in an active phase, as stated by Kazakhstan’s Minister of Energy, Yerlan Akkenzhenov. This development, reported by APA’s correspondent dispatched to Astana, highlights a significant progression in energy collaboration between the two nations.

According to Azeri-Press News Agency, the strategic importance of the Dunga field signifies that energy cooperation between Kazakhstan and SOCAR has entered a new phase. Minister Akkenzhenov emphasized the field’s geological and technical advantages, noting the high quality of the oil, which is light, low in sulfur, and highly suitable for processing. These characteristics represent a rare advantage in the oil industry.

Specific commercial negotiations on the development of the Dunga field are currently being conducted between KazMunayGas and SOCAR. The minister clarified that as a commercial agreement, the Ministry of Energy does not interfere in these negotiations, and the details of the cooperation are being agreed upon solely by KazMunayGas and SOCAR.

The Dunga field is situated in the Mangystau region, with estimated reserves of 106 million tons of oil and 6 billion cubic meters of gas. It is operated under a production sharing agreement signed in 1994. In 2023, KazMunayGas acquired a 60% stake in the field. Oman Oil and Partex Kazakhstan also participate in the project, each holding a 20% stake. SOCAR’s involvement could further deepen energy cooperation in the South Caucasus and Central Asia regions.