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Kazakhstan to start developing new offshore oilfield — President

Kalamkas More field in the Caspian Sea was discovered in September 2002

NUR-SULTAN, September 30. /TASS/. Kazakhstan will initiate development of the Kalamkas More offshore oilfield in partnership with the Russian oil major Lukoil, President of Kazakhstan Kassym-Jomart Tokayev said at the plenary session of the 17th Interregional Cooperation Forum of Kazakhstan and Russia held online.

"We start developing the large Kalamkas More (Khazar) field. The strategic partner from the Russian side has been identified - this is Lukoil. The total project cost will be about $5 bln," the President said.

The timely implementation of Khvalynskoe and Imashevskoe, which are large joint projects with Russia, is important for augmenting the gas resource base of Kazakhstan, Tokayev said. "It is important to solve the commercial issues with Gazprom as soon as practicable, which will expedite the rollout of these projects," he added.

Kalamkas More is a large offshore field in the Caspian Sea, discovered in September 2002.