A prerequisite for the creation was an agreement between the governments of the Republic of Kazakhstan and the Russian Federation on joint development of fuel and energy sectors of the two countries signed on December 2, 1993 in Almaty. In the context of this course in 1995, the Ministry of Oil and Gas of Kazakhstan has signed an agreement with the oil company "LUKOIL". It was the first step of the Russian oil giant in the way of mutually beneficial cooperation in the production, use and processing of hydrocarbon resources in the Republic of Kazakhstan. And after a few months the Kazakhstan enterprise "Yuzhneftegas" and OAO "LUKOIL" signed an agreement on establishing a joint venture with equal shares of the founders of participation for oil in the contract area, which occupies the north-western part of the Kumkol field. This was our CJSC "Kumkol-Lukoil" .
Sector: Oil & Energy
Year Established: 1993