Ustyurt-1/2 Oil & Gas Exploration Project
PROJECT ID
1310202601
SECTOR
Oil & Gas
PROJECT PHASE
Initiation & Feasibility
LOCATION
Ustyurt Plateau, Kazakhstan
START DATE
10/12/2026
INVESTMENT VALUE
$ NA
Active
Verified
Last Updated: 13 October 2026
Publication: 12 October 2026
PROJECT DESCRIPTION
The Ustyurt-1/2 project is a proposed oil and gas exploration initiative in Kazakhstan's Mangystau Region. It covers two prospective blocks within the North Ustyurt Basin. According to bp's Vice President of Exploration, the two blocks have a combined area of approximately 9,700 km². The initiative aims to assess hydrocarbon potential and identify opportunities for future oil and gas discoveries. It forms part of KazMunayGas's broader strategy to expand Kazakhstan's hydrocarbon resource base. On April 2, 2026, KazMunayGas and BP Exploration Operating Company Limited signed an Agreement of Intent covering geological exploration and potential d... Read more
Involved Companies & Contacts
INVOLVED COMPANIES & CONTACTS
COMPANY 1 INFO
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Location
Locations shown on the map are for indicative purposes and may vary from actual locations.
Other important details
October 5, 2026: bp's Vice President for Communications and External Affairs in the Caspian, Central Asia and Türkiye region, Bakhtiyar Aslanbayli, stated that bp expected to conclude a production-sharing agreement covering exploration opportunities in Kazakhstan's Ustyurt region.
October 9, 2026: KazMunayGas First Deputy Chairman Kurmangazy Iskaziev stated that financing documentation and the joint activity agreement were being prepared, with the objective of progressing to a subsoil-use contract by the end of November 2026. This is a target, not a confirmed signing date.
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