Shell signs contract with Kazakhstan to explore Zhanaturmys oil and gas block

Core Viewpoint - Shell has signed a contract with Kazakhstan's Ministry of Energy for geological exploration of the Zhanaturmys oil and gas block, which covers 1,377 square kilometers in the Aktobe region, with the contract running until 2032 [1]. Company Summary - Shell's Kazakhstan subsidiary will conduct seismic surveys, data collection, and technical assessments in compliance with regulatory requirements and necessary permits [1]. - The ministry did not disclose the investment volume related to the Zhanaturmys project [1]. Industry Context - Shell and its partners are currently involved in international arbitration concerning two major projects in Kazakhstan, with a legal dispute over the Karachaganak project potentially worth up to $4 billion [1]. - Ongoing litigation for the Kashagan project, in which Shell is also a shareholder, amounts to approximately $160 billion [1].