Kazakhstan and Croatia have officially inked a contract for hydrocarbon exploration and production at the Shygys block in the Aktobe Region, marking Croatia’s first entry into Kazakhstan’s energy market.

The deal was finalized during the Geoscience & Exploration Central Asia international forum, with key signatories including Deputy Energy Minister Yerlan Akbarov, KazMunayGas First Deputy CEO Kurmangazy Iskaziyev, and GEOENERGIJA RAZVOJ Director, Exploration and Production Marijo Galić, The Caspian Post reports via Kazakh media.

Under the 50/50 parity agreement, the Croatian side will fully fund the exploration phase. The initial work program includes 500 km of 2D seismic surveys and drilling an exploratory well up to 3,500 meters.

The contract not only deepens strategic energy cooperation between Kazakhstan and Croatia but also highlights Kazakhstan’s continued efforts to attract international investment in its hydrocarbon sector.

Earlier, the Kazakh Energy Ministry announced new support measures for subsoil users, further boosting the country’s appeal to foreign energy investors.