Kazakh KMG, Chinese CNODC Discuss Cooperation Issues
Date
7/23/2024 10:09:26 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, July 23. KazMunayGas (KMG,
Kazakhstan's national oil and gas company) and China National Oil &
Gas Exploration and Development Corporation (CNODC, a subsidiary of
CNPC) have discussed cooperation issues, Trend
reports.
Discussions took place between the Chairman of the Board of KMG,
Askhat Khassenov, and the General Director of CNODC, He
Wenyuan.
Thus, the parties discussed the progress of implementation of
the agreement to deepen strategic cooperation in the oil and gas
industry between KMG and CNPC, signed on the sidelines of the
seventh meeting of the Kazakh-Chinese Business Council earlier this
month.
The framework agreement provides that the parties will explore
the possibilities for processing hydrocarbons from the Central
Urikhtau field at the Zhanazhol oil and gas processing complex
(CNPC-Aktobemunaigas).
In addition, the parties intend to explore the prospects for
cooperation in petrochemical projects as well as in the exploration
and production of oil and gas in the Caspian sedimentary basin and
the geological exploration of new subsoil areas.
Furthermore, Kazakhstan produced 90 million tons of oil in 2023,
which is 6.9 percent higher than in 2022. Oil exports also
increased and amounted to 70.5 million tons, which is 9.6 percent
more than the previous year. Moreover, Kazakhstan plans to increase
oil production in 2024 to 90.3 million tons.
In 2023, gas production in Kazakhstan amounted to 59.063 billion
cubic meters, including large fields such as Tengiz (16.009 billion
cubic meters), Karachaganak (22.385 billion cubic meters), Kashagan
(11.856 billion cubic meters), and others (8.813 billion cubic
meters). Kazakhstan is projected to produce 60.456 billion cubic
meters of raw natural gas in 2024.
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