Kazakhstan’s national oil and gas company KazMunayGas is exploring new partnership options for two major offshore projects as sanctions on Russia's Lukoil company disrupt ongoing cooperation.

The company confirmed a pause in joint development of the Kalamkas-Sea and Khazar oil and gas fields, with Deputy Chairman of the KMG Management Board Kurmangazy Iskaziyev stating that options are being considered, including a potential exit from the partnership, The Caspian Post reports via Kazakh media.

Despite the challenges, KazMunayGas is working to keep the projects on track. “We are looking for ways to move forward, taking into account the sanctions restrictions,” Iskaziyev said on the sidelines of a geological forum in Astana.

The company emphasized the strategic importance of the projects, not only for economic growth but also for regional employment. Construction of offshore platforms at domestic shipyards could create up to 2,000 jobs in the Mangistau Region.

While no formal negotiations with new partners have begun, KMG signaled that alternative investors may be brought in to ensure timely development. The project, launched in June 2024, remains a priority for Kazakhstan’s energy sector.

The Kalamkas-Sea field lies in the northeastern part of the Caspian Sea, about 64 km offshore, while the Khazar field is located nearby, forming part of a key cluster for future oil production.

Earlier, KazMunayGas also held discussions with ExxonMobil on potential cooperation and exploration plans, underscoring its broader strategy to diversify partnerships.