Kazakhstan - 04

Kazakhstan: KMG-Nabors Joint Venture Underscores Astana’s Tengiz Goals

On 21 April KMG and Bermuda-headquartered Nabors Industries Ltd. announced the establishment of their new JV, KMG Nabors Drilling Company LLP, at a signing ceremony attended by Deputy Energy Minister Uzakbay Karabalin. The JV is slated to be a major driller and developer for the Future Growth Project (FGP) at the Tengiz field, and possibly other key projects in Kazakhstan in the future. Horizon contacts in Astana noted that KMG’s choice of a JV partner came after more than a year of negotiations, with KMG valuing Nabors’ involvement in the United Arab Emirates (UAE) and Mexico and launch of five drilling installations in Western Siberia.

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