Petrofac is to make a bid to improve management and production of Kazakhstan’s Emba fields after agreeing a deal with the country’s KazMunaiGas company.
The memorandum of understanding will see the two firms look to improve efficienty of oil production from the field.
“We are delighted to be forging what we anticipate will be a long-term relationship with KMG EP and EMG which will allow us to provide capability and performance-enhancing management for their mature fields in what is a strategically important region for us,” said Andy Inglis, chief cxecutive of Petrofac Integrated Energy Services.
Under the terms of the agreement Petrofac will evaluate the Emba fields and submit an offer for long term improvement of the management and production ahead of securing a contract to manage production enhancement.
“The key objectives of KMG EP today are growth of consolidated production volume and replenishment and increase of oil and gas reserves at our core assets,” said Abat Nurseitov, Chief Executive Officer of KMG EP.
“We hope that our partnership with Petrofac will allow us to accomplish optimization of production and improve oil recovery in EMG mature fields.”
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