Project Profile
Value: US$200 million
Location: Offshore Aktau, Kazakhstan in the Caspian Sea
Startup Year: 2018
Area: 8,100 sq km
The “N” Block is located 30 kilometres south-southwest offshore Aktau, Kazakhstan in the Caspian Sea. The block covers approximately 8,100 square kilometres and according to government estimates is considered highly prospective for both oil and gas.
In June 2009, ConocoPhillips signed a project agreement allowing for the joint venture exploration and development of the N Block, located offshore Kazakhstan. ConocoPhillips will have a 24.5 percent interest in the subsoil use contract. The first exploration well is planned to spud in 2010 on the Rakushechnoe More Prospect.
Operators:
KazMunaiGaz: Operator with 51% interest
ConocoPhillips Kazakhstan: 24.5% interest
Mubadala Development Company (MDC): 24.5% interest
Contractors:
Eurasia Drilling Co: Drilling contractor