and the Russian Tatneft will create a joint venture for geological exploration for hydrocarbons at the Karaton Podsolevoy subsoil area in the Atyrau region in western Kazakhstan
The two companies signed agreements for the project on February 21st in the Russian city of Kazan
Tatneft is headquartered in the nearby town of Almetyevsk
KazMunayGas is selling Tatneft a 50% stake in Karaton Operating Ltd.
the operator of the Karaton Podsolevoy project
In June 2023 KazMunayGas received a contract to explore and produce hydrocarbons at the Karaton Podsolevoy area and in September 2023 registered a private company
KMG transferred the subsoil use right to Karaton Operating Ltd
“[Kazakhstan’s president Kassym-Jomart Tokayev] set the task of attracting foreign investment in the raw materials sector and geological exploration,” commented Magzum Mirzagaliyev
we held negotiations with a number of investors and are pleased that our partner in the Karaton Podsolevoy project has become the Tatneft company
which has extensive experience in the field of geological exploration and development of oil and gas fields.” 
Mr Mirzagaliyev added that drilling of the first exploration well with a depth of 5,500 meters is planned for 2024
A moderate magnitude 4.3 earthquake hit 35&nbsp;km (22&nbsp;mi) away from <a href="place/44777/earthquakes/karaton.html">Karaton</a>, <a href="earthquakes/kazakhstan/atyrau.html">Atyrau</a>, &nbsp;<a href="region/4778/earthquakes/kazakhstan.html">Kazakhstan</a>
2024 at 2.20 pm local time (Asia/Atyrau GMT +5)
The depth of the quake could not be determined
but is assumed to be shallow.The quake was not felt (or at least not reported so).