SUSTAINABILITY REPORT 2023

Offshore Well Control

KMG, together with strategic partners, is engaged in geologic exploration in Zhenis, Abai and Al-Farabi areas in the Kazakhstan Sector of the Caspian Sea. Given the high cost of offshore exploration, KMG seeks to share exploration risks with international partners (Eni, Lukoil, etc.). Under Subsoil Use Contracts and Joint Operating Agreements, all necessary obligations for offshore well control are delegated to specially created joint ventures.

At the same time, management decisions on offshore drilling and seismic acquisition in the joint ventures are made by KMG and Partners within the Operating Committees and their subcommittees (financial, technical, HSE, procurement) in full compliance with international standards and RoK laws.

All responsibilities relating to offshore well control are set out in the Operating Committee Regulations and Joint Operating Agreement.