Samruk-Kazyna fund: Refinery construction in North Kazakhstan region is impossible

Oil&Gas Materials 25 December 2012 17:14 (UTC +04:00)

Kazakhstan, Astana, Dec. 25 / Trend D. Mukhtarov /

The idea of building an oil refinery in the North-Kazakhstan region is absurd, managing director of the Kazakh Sovereign Wealth Fund Samruk-Kazyna Malik Salimgereyev said at a press conference on Tuesday.

"This idea has surprised me," he said at a press conference on Tuesday.

He said that there are no free oil volumes for processing at this refinery.

"The oil processing volumes have been determined," he said. "There are no additional volumes."

The North Kazakhstan region has no proper infrastructure for the refinery construction.

"If we had built a new refinery, we would build it in relation to the deposits, located in the west," he said.

"Kazenergoregion" company director Kamaria Sagyndyk earlier reported at the forum of investors in Petropavlovsk that "Kazenergoregion" company plans to build several plants, including a refinery in the North Kazakhstan region.

She said that the plant will produce up to 12 million tons of oil products a year.