BP Advances Energy Exploration in Kazakhstan and Uzbekistan
BP is spearheading the exploration and development of significant natural gas reserves in the Ustyurt Plateau. This initiative is pivotal for the establishment of a trans-Caspian gas corridor, enhancing energy security in Europe.
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BP's recent exploration agreement with KazMunayGaz for a Ustyurt block marks a critical step in harnessing the area's natural gas reserves. Concurrently, discussions with Uzbek officials aim to involve BP in a joint initiative with Uzbekneftegaz and SOCAR, focusing on the development of Ustyurt.
A notable discovery in Kazakhstan's Zhylyoi District, estimated at over 20 billion tons of hydrocarbons, could further attract foreign investment. Unlike the offshore Kashagan field, Zhylyoi's onshore location promises lower capital costs and potentially greater revenue for Kazakhstan. The developments are fueling interest in a trans-Caspian pipeline, aimed at transporting gas to European markets.
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