KMG, CITIC agree to cooperate on projects in Kazakhstan

China's CITIC will take part in geological exploration and prospecting projects for new oil fields in Kazakhstan, Report informs.

Today, within the second China-Central Asia Industrial and Investment Cooperation Forum, Chairman of the Board of JSC NC "KazMunayGas" (KMG) Askhat Khassenov and Chairman of the Board of Directors of CITIC Group Xi Guohua signed an Agreement on strategic cooperation between the two companies.

"The document provides for cooperation in the field of exploration and development of oil and gas fields, conducting geological studies of promising subsoil areas in Kazakhstan," the Kazakh company said in a statement.