Middle East Economic Survey


No 9



CNPC And KMG Sign Agreement To Develop Urikhtau Gas Field

Chinas CNPC announced on 23 February that it has signed an agreement with Kazakh state firm KazMunaiGaz (KMG) for the establishment of a joint venture company that will develop the Urikhtau gas field on a 50:50 basis. KMG estimates the fields reserves at 40bn cu ms of gas, with a potential production capacity of approximately 1.5 bcm/year. Urikhtaus output will be delivered...