| Description: | "The contract for the Zhambay offshore exploration block in the Kazakhstan Caspian Sea was signed in fourth quarter 2006. It was approved by the country's Ministry of Energy and, since the contract is pending ratification by the Kazakhstan Anti-Trust Committee, the block was not included in the company's official mining acreage at 31 December 2006.
The operation will be a KazMunayGas, Repsol YPF, and Lukoil joint venture. The agreement with KazMunayGaz whereby Repsol YPF enters the Zhambay exploration block with a 25% stake was signed in 2005.
" |
