KMG and CNPC Discussed Priority Areas of Cooperation

Source Company Press Release
Company KazMunayGas, CNPC
Tags Corporate: Overview/Strategy, Country: China, Kazakhstan, Midstream: Pipeline
Date April 24, 2023

Chairman of the Board of JSC "KazMunayGas" NC (KMG) Magzum Myrzagaliyev held a meeting with Mr. Huang Yunzhang, Vice President of CNPC, President of PetroChina.

During the meeting, the parties discussed promising areas of cooperation and the possibility of implementing joint investment projects. In particular, options for cooperation on the construction of a gas processing plant with a capacity of 4 billion cubic meters per year at the Kashagan field were discussed.

The problem of increasing the supply of Kazakhstani oil to the PRC by expanding the Kazakhstan-China oil pipeline was also discussed. The advantage of this oil pipeline is that it allows direct access to the Chinese market without transit countries.

It should be noted that a significant part of the pipeline system is jointly owned by KMG and CNPC. Last year, the volume of deliveries to the east of Atyrau increased, and now the volume on the Atyrau-Kenkiyak-Kumkol section is fully loaded. For example, in 2022, 4.5 million tons of oil were delivered via Atyrau-Kenkiyak and 8.1 million tons via Kenkiyak-Kumkol.

In addition, the parties discussed opportunities for cooperation in the development of new geological exploration projects such as "Ulken Zhambyl" and "Torgai Paleozoic".

The participants considered ways to increase the capacity of the Shymkent oil refinery to 12 million tons per year. Implementation of this project is urgent due to the increase in demand for oil products in Kazakhstan.

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