October 1, a three-year dispute between the government of Kazakhstan and shareholders of the international consortium Karachaganak Petroleum Operating B.V. (KPO) on the division of profit from the activities of the consortium has ended. On this day, the government represented by the Ministry of Energy of Kazakhstan, the Ministry of Finance of Kazakhstan and the competent authority – PSA LLP – and the shareholders of the Karachaganak project represented by Eni, Shell, Chevron, LUKOIL and KazMunayGas signed the "Principles Agreement" that set forth the major terms for the settlement of the dispute over the so-called "fairness index".
In July of this year, the Government intends to proceed with the construction of the new pipeline: from Kyzylorda to Astana, and then in the northern regions of the country. It is expected that it will develop gas infrastructure in the capital, Central and Northern Kazakhstan. The new project creates good opportunities for contractors and subcontractors, suppliers of pipes, equipment, as well as engineering and construction services.
Closing of a deal is expected in the near future between the National Company KazMunayGas and the Chinese CEFC on acquisition by the last mentioned of 51% stake in the KMGI Group, which owns and carries out refining, trading and sales of petroleum products through the own network of petrol stations Rompetrol in Romania, Bulgaria, Moldova, Georgia, as well as through its partners in the Black Sea region.
A press conference devoted to the 20th anniversary of the oil and gas cooperation between the People's Republic of China and the Republic of Kazakhstan was held on September 7 in Astana within the framework of the 11th KAZENERGY Eurasian Forum in the Palace of Peace and Reconciliation.
Fromclimatechangetopopulation growthandnewcustomer expectations,energyis closely linked tothe keyissuesfacingourworld today.
The deal between NC KazMunayGas JSC and China Energy Company Limited received the approval of Romanian authorities
Kazakhstan Maritime Academy was established in 2012 under the auspices of the Kazakh-British Technical University (KBTU). Sponsor of this project is Tengizchevroil (TCO), who contributed $25 million.
Chevron’s Atyrau Polyethylene Pipe Plant is a pioneer of the polyethylene pipe production in Kazakhstan. Since 2003, the company has produced thousands of tons of pipes for various facilities in oil industry and public utility service, thus contributing to the wide spread of polyethylene pipes in the country.
Historical results of 2016
The last year 2016 was marked by some historical results for the group “KMG International”, which through “Rompetrol Rafinare” manages “Petromidiа”, the largest in Romania and the most modernized refinery in the Black Sea area, and “Vega”, the only producer of bitumen and hexane in the region, and the petrochemical complex, the only producer of polymers in the country.
June 2017 marks 20 years of cooperation between the largest Chinese Petroleum Corporation CNPC, a member of the top five energy companies in the world, and Kazakhstan.
History of mutually beneficial partnership began in the summer of 1997 when on June 4 at the Presidential Palace in Almaty in the presence of the President of Kazakhstan Nursultan Nazarbayev and the Vice-Premier of the State Council of the People's Republic of China Li Lanqing the Agreement on sale of shares of Aktobemunaigas JSC was signed. The ceremony was preceded by an investment tender, which CNPC in overt struggle defeated their rivals from America, Canada and Japan.
Participants of the North Caspian Consortium cannot make a decision on implementation of a full-scale development of the offshore Kashagan field in terms of volatility of world oil prices.
Tengizchevroil LLP’s Future Growth Project-Wellhead Pressure Management Project is a Milestone Project for the Republic of Kazakhstan#2 (104), April 2017 special issue
Tengizchevroil’s Future Growth Project-Wellhead Pressure Management Project (FGP-WPMP) is the next major expansion of the Tengiz field. It is a landmark project that will help to increase Tengiz production by 12 million tonnes of oil per year and will maintain full production rates at the existing Tengiz facilities. The Project will be built of modules fabricated in Kazakhstan, South Korea and Italy and transported to Tengiz for final assembly.
JSC NC KazMunayGas and the Chinese company China Energy Company Limited (CEFC) signed an agreement in Bucharest, confirming their intention to implement the deal on the partial sale of the KMG International (KMGI) shares.
The economics of Kashagan oil and gas project development and its impact on the economy of Kazakhstan sparked a lot of interest recently. Unfortunately, the terms of the production sharing agreement (PSA) of this project are confidential, the exact sum of investments and other details of the execution of the project is unknown as well.
Karachaganak Petroleum Operating B.V. (KPO) has announced the performance results for the year of 2016.
In 2016 KPO produced 139.7 million barrels of oil equivalent in the form of stable and unstable liquids, sour gas for export, and sweet gas for use as fuel. In addition, 8.04 billion cubic metres of sour dry gas were re-injected, a volume equivalent to approximately 46 per cent of the total gas produced
On July 5, 2016, Chevron and our partners in the Tengizchevroil (TCO) joint venture have approved full funding for a major expansion of crude oil production for one of the company’s most valuable producing assets, the Tengiz Field in western Kazakhstan. The announcement of the Final Investment Decision (FID) took place in Astana, on July 5, 2016.