22.10.25
Azerbaijan’s state oil company SOCAR may become a participant in Kazakhstan’s “Dunga” oil and gas project. Kazakhstan’s Minister of Energy Yerlan Akkenzhenov stated that commercial negotiations are currently underway.
Yerlan Akkenzhenov said, “This issue (SOCAR’s participation in the Dunga project) is being discussed with the national company KazMunayGaz,” in an interview with Interfax-Kazakhstan on Wednesday.
The Dunga oil and gas field is located in the Tupkaragan district of Kazakhstan’s Mangystau region. The field was discovered in 1966 and has been in full-scale production since 2007. Its geological reserves are estimated at 106 million tons of oil and over 6 billion cubic meters of gas.
It should be noted that in 2023, KazMunayGaz acquired a 60% stake in the Dunga field.
In 2022, KazMunayGaz and Azerbaijan’s state oil company SOCAR signed an agreement on the transit of Kazakh oil through Azerbaijan. In 2024, the two companies agreed to gradually increase the volume of Kazakh oil transported through Azerbaijani territory. According to reports released at the beginning of October this year, since the conclusion of the transit agreement, approximately 3.4 million tons of Kazakh oil have been transported on a parity basis via this route.
