British energy major Shell has signed a new exploration contract with Kazakhstan’s Ministry of Energy for the Zhanaturmys block in the Aktobe Region, expanding the company’s upstream presence in one of the country’s most promising hydrocarbon basins.
The agreement allows Shell to begin geological exploration at the Zhanaturmys block, which covers approximately 1,377 square kilometres and lies within a region considered to hold significant oil and gas potential. The contract was signed by Kazakhstan’s Vice Minister of Energy, Erlan Akbarov, and Shell Kazakhstan Senior Vice President and Chair, Suzanne Coogan.
Under the terms of the agreement, the company will conduct seismic surveys, gather geological data and carry out a technical assessment of the site. The programme includes 3D seismic surveys and the potential drilling of a deep exploratory well, reflecting the scale and technical complexity of the project.
Kazakh officials say the initiative is intended to strengthen the country’s long-term hydrocarbon resource base. According to Vice Minister Akbarov, the project is expected to contribute to energy security while supporting sustainable economic development through continued exploration activity.
For Shell, the contract marks the continuation of its long-standing involvement in Kazakhstan’s energy sector. Coogan said the agreement reflects the company’s commitment to long-term co-operation with the country and its intention to apply global expertise and advanced technologies to help expand Kazakhstan’s resource base.
The exploration contract will remain in force until 2032 and will be implemented under Kazakhstan’s improved model exploration contract framework. As part of its obligations, Shell will also allocate at least $200,000 towards socio-economic development initiatives in the region where the Zhanaturmys block is located.
The agreement comes amid a broader legal and regulatory context involving Kazakhstan and several international oil companies operating in the country. Earlier this year, a consortium that includes Eni, Chevron and Lukoil, alongside Shell, lost a court dispute concerning cost deductions under the Karachaganak gas condensate field project.
The ruling could result in payments to Kazakhstan estimated at between $2 billion and $4 billion, although the consortium retains the right to appeal. Investors had previously proposed resolving the dispute by constructing a gas processing plant to supply Kazakhstan’s domestic market.
Separately, legal proceedings continue in relation to the Kashagan oil field, one of the largest offshore oil developments in the world. Kazakh authorities have raised claims linked to environmental violations, including the storage of sulphur above permitted limits, as well as questions regarding the justification of project costs. The state’s claims in the Kashagan case are estimated at around $13.5 billion.
Despite these disputes, Kazakhstan’s leadership has repeatedly stressed that co-operation with international investors remains stable. According to the Ministry of Energy, 321 contracts for hydrocarbon exploration and production are currently active in Kazakhstan’s subsoil use sector.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli...
Kyrgyzstan recorded the largest increase in women’s representation in parliament worldwide in 2025, accordin...
U.S. President Donald Trump and UK Prime Minister Keir Starmer spoke by phone on Sunday as tensions between Washin...
Türkiye’s official anti-disinformation agency has issued a statement refuting what it described as onli...
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong m...
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Iranian civilian and military officials have pledged their obedience to the new leader, Ayatollah Seyed Mojtaba Khamenei, with President Masoud Pezeshkian saying his leadership “will herald a new era of dignity and authority for the Iranian nation.”.
Almost 2,000 people have been evacuated from Iran via Azerbaijan since conflict erupted in the Middle East.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Global oil prices continue to rise, currently surpassing $119 a barrel this Monday, an almost four year high following fresh U.S.-Israeli strikes targeting oil depots. Stock markets shares slumped on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Iran named Mojtaba Khamenei to succeed his father Ali Khamenei as supreme leader on Monday (9 March), signaling that hardliners remain firmly in charge, as the week-old U.S.-Israeli war with Iran pushed oil above $100 a barrel.
Entry and exit across the state border between Azerbaijan and Iran for all types of cargo vehicles, including those in transit, will resume on 9 March, according to a statement by the Cabinet of Ministers of Azerbaijan.
Kyrgyzstan recorded the largest increase in women’s representation in parliament worldwide in 2025, according to a new report by the Inter-Parliamentary Union.
Türkiye’s official anti-disinformation agency has issued a statement refuting what it described as online “disinformation” and reiterating the strength of relations between Türkiye and Azerbaijan.
China has urged Afghanistan and Pakistan to resolve their dispute through dialogue after Chinese envoy Yue Xiaoyong met Afghan Foreign Minister Amir Khan Muttaqi, as fighting between the two neighbours entered its eleventh day.
Almost 2,000 people have been evacuated from Iran via Azerbaijan since conflict erupted in the Middle East.
Kazakhstan has evacuated more than 7,300 citizens from the Middle East since regional tensions escalated, using both air and land routes to bring nationals home while closely monitoring political developments and potential economic effects linked to rising oil prices.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment