Kazmunaygas, Exxonmobil Intend To Develop Partnership
Date
6/18/2024 6:11:44 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, June 18. Kazakhstan's
KazMunayGas (KMG, the national oil and gas company) and ExxonMobil
intend to develop a partnership, Trend reports.
This was announced during a meeting between KMG Chairman of the
Board, Askhat Khassenov, and Cecile Rauline, Managing Director of
ExxonMobil in Kazakhstan.
The parties discussed the current status of the implementation
of the Tengiz and Kashagan projects, issues of the development of
domestic petrochemicals, and Kazakhstani content.
Khassenov noted the unchanged course to strengthen the strategic
partnership between KazMunayGas and ExxonMobil. He expressed hope
for support from the US company for ongoing projects and new
initiatives at KMG.
To note, ExxonMobil has invested more than $28 billion in
Kazakhstan until the end of 2023.
ExxonMobil is a major international oil and gas company with a
leading position in the energy and petrochemical industries. The
company began its activities in Kazakhstan in 1993, becoming one of
the first major investors in oil projects in the country.
The company owns: 25 percent of participation shares in
Tengizchevroil LLP, which is developing the Tengiz field; 16.81
percent within the framework of the Production Sharing Agreement
for the Northern Caspian Sea, which includes the Kashagan field;
and 7.5 percent in the Caspian Pipeline Consortium.
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