President of Kazakhstan Kassym-Jomart Tokayev received acting chairman of the board of KazMunayGas Askhat Khassenov, Kazinform News Agency cites the Akorda press service.

Source: Kazinform

The Head of State was presented with a report on the outcomes of the operational and financial activity of the company for Q1 2024. The President was informed about growth in most of the company’s key indicators compared to the same period of last year.

Khassenov reported on the implementation of major investment projects, including construction of the hybrid power plant in Zhanaozen and the polyethylene plant with a capacity of 1.25 million tons in Atyrau region, development of the petrochemical cluster, exploration of Kalamkas-more, Khazar and Auezov fields in the Caspian Sea.

The President was presented with information regarding the gas fields launched in 2023 as well as the geologic exploration operations to replenish reserves and maintain the production level of oil. In particular, KazMunayGas seeks to carry out drilling works at a depth of 5,500 meters at the Torgai Paleozoic field in Kyzylorda region as well as drilling of a well at the Abay site in the Caspian Sea.

Tokayev was also briefed about the realization of social projects and the company’s participation in the flood control works.

In conclusion, Tokayev gave a number of instructions regarding attraction of major investors in geologic exploration and the oil and gas sector as well as drew special attention to the need to ensure smooth operation of Kazakhstan’s oil refineries.