Kazakh-Chinese Energy Partnership Pushes Fresh Multibillion-Dollar Deals

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, September 2. Kazakhstan and China have joined forces to dig deep into geological exploration and lay the groundwork for infrastructure development, Trend reports via KazMunayGas.

During the 8th Kazakhstan-China Business Council, the following documents were signed:

Agreement on the basic principles for establishing a Joint Venture for the“Urea” Project between KMG PetroChem LLP and JSC CNPC-Aktobemunaigas;

Framework Agreement on Strategic Cooperation between KMG and CNOOC INTERNATIONAL LIMITED. The document envisages cooperation in seeking geological exploration projects and hydrocarbon field development outside Kazakhstan and China (in Central Asia and the Caspian Sea region);

Contract between the Ministry of Energy of the Republic of Kazakhstan, KMG, and Sinopec International Energy Investment Holdings Netherlands B.V. for exploration and production of hydrocarbons in the complex project at the“Berezovsky” subsoil plot, located in the West Kazakhstan region;

Statement of Intent on financial cooperation within the framework of the main pipeline project between the China Development Bank, KMG, and KMG PetroChem LLP.

In a recent convening of the Kazakhstan-China Business Council, President Kassym-Jomart Tokayev articulated strategic initiatives, culminating in the endorsement of over 70 commercial agreements, aggregating to a substantial financial commitment exceeding $15 billion.

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