Kazakhstan, China Expand Energy Collaboration, Sign Key Agreement

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, March 28. Kazakhstan's First Deputy Prime Minister Roman Sklyar and KazMunayGas (KMG) Chairman Askhat Khassenov held meetings with senior executives of China's leading oil and gas companies on the sidelines of the Boao Forum for Asia (BFA) in Hainan, Trend reports.

During talks with CNOOC Executive Vice President Sun Da Lu, the sides reviewed progress on the joint Zhylyoi project in the Atyrau region. It was noted that exploration would be conducted under an Enhanced Model Contract (EMC), which offers several investment incentives. The parties also discussed potential cooperation between KMG and CNOOC's subsidiary, COSL (China Oilfield Services), leveraging its extensive experience in offshore oilfield services.

In a meeting with Sinopec Chairman Ma Yongsheng, the officials discussed the $7.6 billion Polyethylene project aimed at developing Kazakhstan's petrochemical cluster. Additionally, they explored investment opportunities in the Berezovsky geological exploration project in western Kazakhstan, near the Karachaganak field.

Talks with CNPC President Hou Qijun highlighted the longstanding partnership between KMG and CNPC in oil production. The two sides agreed to expand cooperation across multiple areas, including the carbamide project, a new joint petrochemical initiative estimated at $1.2 billion.

Following the discussions, KMG PetroChem and CNPC signed a protocol outlining the next steps for implementing the carbamide project.

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