Kazakhstan's national oil and gas company, KazMunayGas (KMG), along with the Chinese CITIC Group and CITIC Resources Holdings Limited, have engaged in discussions regarding the Aktau bitumen plant's production capacity expansion project to 1.5 million tons annually, as reported by Trend.

Source: Trend

The Chairman of the Board of KMG, Askhat Khassenov, held negotiations with Xi Guohua, the Chairman of the CITIC Group's Board of Directors, and Hao Weibao, the CEO of CITIC Resources Holdings Limited, on this matter.

Last year, the NJPEC Institute in China conducted a preliminary feasibility study for the project and performed a technical audit of the plant. A construction PC contract was signed in May of this year, with detailed design work currently in progress.

Emphasizing the strategic significance of bitumen production development for Kazakhstan, Khasenov highlighted the necessity of launching the plant before the 2025 road construction season commences.

Additionally, discussions surrounding the production activities of the joint venture Karazhanbasmunai JSC were held during meetings with CITIC Group leaders.

KMG's leader reaffirmed the company's commitment to enhancing collaboration with CITIC Group partners and expressed optimism about the successful execution of joint initiatives.

Furthermore, the bitumen processing volumes at CASPI BITUM reached 853,484 tons by the end of 2023, equivalent to 100.5 percent of the target. In the past year, 358,155 tons of road bitumen were manufactured, representing 100.8 percent of the plan.

In 2023, the highest consumers of road bitumen from the plant were the Almaty region with 60,913 tons (17 percent), the Mangystau region with 44,025 tons (12 percent), and the Zhambyl region with 39,404 tons (11 percent) of the total shipment volume.