KMG subsidiary commissions 6 new units at Petromidia refinery
Kazakhstan, Astana, Nov. 11 / Trend K. Konyrova /
Rompetrol Rafinare, which is wholly owned by the Kazakh state oil and gas company "KazMunayGas" (KMG) completed installing six of nine industrial projects during the modernisation of the Petromidia refinery, KazMunayGas said.
"The modernisation plan 'Investment Package 2010-2011' will be fully completed in the first quarter of 2012," the company said. "The total value of capital investments hits $367 million."
The investment package will help the Petromidia refinery reach an equal par with the best refineries in Southern and Eastern Europe.
After reconstruction is completed, the refinery will increase processing from 3.7 million tons to 5 million tons per year by processing 100 per cent of Urals crude oil. Moreover, the refinery will increase selecting diesel fuel from 37 per cent to 45 per cent and continue producing high-quality fuel that meets all EU regulations and legislation.
A catalytic cracking unit, desulphurisation unit (acid gas removal), a new flare system and the air separation unit were put into operation.
The reconstruction of Petromidia refinery is a part of the National Company KazMunayGas's strategy to consolidate and expand its presence in Central and Eastern Europe, Romania, Bulgaria, Moldova, Ukraine and Georgia. Rompetrol has filling stations there, as well as in Turkey, Serbia and Greece.
KazMunayGas is the Kazakh national operator for hydrocarbon exploration, production, processing and transportation. The state owns 100 per cent of the company's shares.