Chairman of KazMunayGas (KMG) Management Board, Askhat Khassenov, engaged with leaders from China National Petroleum Corporation (CNPC) and Petroleum & Chemical Corporation (Sinopec) during his visit to China to discuss major collaborative projects in the realms of oil and gas chemistry, geological exploration, and oil refining, as reported by KMG via Trend.

Source: Trend

In a meeting with CNPC President Hou Qijun, the spotlight was on the Urea project at Kazakhstan's Zhanazhol oil and gas field. This groundbreaking project, set to revolutionize Kazakhstan's gas chemical industry and agriculture, aims to kick off production of up to 1.2 million tons of urea annually, with a substantial cost of around $1.5 billion. The project is expected to generate 3,000 jobs during construction and about 400 during operation. All arrangements are in place with technology licensors and a leading global fertilizer trader for urea exports.

Discussions with CNPC also covered joint efforts in geological exploration, gas processing at the Urikhtau field, and the enhancement of key infrastructure, including the Shymkent Refinery and critical pipelines like Kenkiyak-Atyrau and Kenkiyak-Kumkol.

Moreover, in Beijing, Khassenov met with Sinopec Chairman Ma Yongsheng to explore joint ventures focusing on the production of polyethylene, terephthalic acid (TPA), and polyethylene terephthalate (PET), with investments exceeding $8 billion. Progress has been made from initial studies to the FEED stage, with additional geological exploration projects also being considered.

These strategic collaborations strengthen the bond between Kazakhstan and China, highlighting the significant benefits expected from these projects.