ASTANA, Kazakhstan, August 22. Chairman of the Management Board of KazMunayGas (KMG) Askhat Khassenov has met with leaders from China National Petroleum Corporation (CNPC) and Petroleum & Chemical Corporation (Sinopec) to discuss significant joint projects in oil and gas chemistry, geological exploration, and oil refining during his visit to China, Trend reports via KMG.
During the meeting with CNPC President Hou Qijun, the Urea project at Kazakhstan's Zhanazhol oil and gas field took center stage. The project, which is a game-changer for Kazakhstan's gas chemical industry and agriculture, aims to hit the ground running and produce up to 1.2 million tons of urea annually, with a hefty price tag of about $1.5 billion. The project is expected to create a whopping 3,000 jobs during construction and approximately 400 during operation. Everything is set in stone with technology licensors and a bigwig global fertilizer trader for exporting urea.
The talks with CNPC extended to collaborative efforts in geological exploration, gas processing at the Urikhtau field, and the expansion of key infrastructure, including the Shymkent Refinery and critical pipelines like Kenkiyak-Atyrau and Kenkiyak-Kumkol.
In Beijing, Khassenov also held discussions with Sinopec Chairman Ma Yongsheng, focusing on joint projects that aim to produce polyethylene, terephthalic acid (TPA), and polyethylene terephthalate (PET), with investments exceeding $8 billion. The sides are progressing from preliminary studies to the FEED stage, with additional geological exploration projects also under consideration.
These strategic engagements strengthen the ties between Kazakhstan and China, underscoring the substantial advantages these projects are anticipated to bring to the table.
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