Qazaqgaz And Exxonmobil Discuss Expanding Co-Op In Hydrocarbon Exploration
This was announced in a statement published by QazaqGaz, following the meeting between Chairman of the Management Board Alibek Zhamauov and Kenan Nariman, Managing Director of ExxonMobil Kazakhstan Inc.
"The sides discussed current cooperation and prospects for its further development, as well as issues related to the development of Kazakhstan's oil and gas infrastructure and gas industry", QazaqGaz said.
Particular attention was paid to opportunities to expand cooperation in hydrocarbon exploration and production, implement promising projects, exchange international expertise, and apply modern technological solutions and best industry practices.
The meeting also highlighted the importance of further developing the partnership between QazaqGaz and ExxonMobil, taking into account the company's extensive international experience and the potential for joint initiatives in Kazakhstan's oil and gas sector.
ExxonMobil has operated in Kazakhstan since 1993, it holds a 25% stake in Tengizchevroil consortium developing the Tengiz oil field. The company also holds a 16.81% stake in the North Caspian Operating Company (NCOC), which is developing the Kashagan offshore oil field in Kazakhstan's sector of the Caspian Sea. ExxonMobil holds a 7.5% stake in the Caspian Pipeline Consortium (CPC) through its affiliate Mobil Caspian Pipeline Company.
QazaqGaz is a portfolio company of Samruk-Kazyna. It manages Kazakhstan's centralized infrastructure for the transportation of commercial gas through main gas pipelines and gas distribution networks, provides international gas transit, and sells gas in domestic and foreign markets. The company also develops, finances, constructs, and operates gas pipelines and gas storage facilities.
According to the company's website, the QazaqGaz group operates gas pipelines with a total length of about 76,000 kilometers, including around 20,000 km of main gas pipelines with an annual capacity of up to 267.8 billion cubic meters and approximately 56,000 km of gas distribution networks.
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