ASTANA, Kazakhstan, October 4. During the meeting between the Chairman of the Board of KazMunayGas (KMG, Kazakhstan's national oil and gas company), Magzum Mirzagaliyev, and the Senior Vice President of ExxonMobil John Whelan, the progress of the implementation of joint projects was discussed, the company told Trend.
The parties, in particular, discussed work within the framework of the Future Expansion Project/Wellhead Pressure Management Project at the Tengiz field, which should ensure an increase in oil production to 40 million tons per year.
Mirzagaliyev and Whelan noted with satisfaction the joint fruitful work on diversifying export routes, including in the Baku-Tbilisi-Ceyhan (BTC) direction.
It was noted that the project for the construction of the gas separation complex is of particular importance for the industry in light of the prospects for the development of the petrochemical industry in Kazakhstan. Currently, KMG is creating polyethylene. The raw material for the future plant will be ethane, which is planned to be extracted from Tengizchevroil's dry gas at the Gas Separation Complex.
The progress of the development of the Kashagan field was also reviewed at the meeting. The strategic need for timely implementation of further stages of field development is noted.
"KazMunayGas is committed to expanding cooperation with ExxonMobil in a number of strategic areas," Mirzagaliyev said.
ExxonMobil is a major international oil and gas company with a leading position in the energy and petrochemical industries. The company began its activities in Kazakhstan in 1993, becoming one of the first major investors in oil projects in the country.
The company owns: 25 percent of participation shares in Tengizchevroil LLP, which is developing the Tengiz field; 16.81 percent within the framework of the Production Sharing Agreement for the Northern Caspian Sea, which includes the Kashagan field; and 7.5 percent in the Caspian Pipeline Consortium.