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.
Meeting of Nikolay Gorban – CEO Caspian Pipeline Consortium and Sauat Mynbayev - the Chairman of the Board of the National Company «KazMunaiGas» took place in Astana in the middle of September. Nikolay Gorban noted that CPC is ready to provide increase in through capacity of «Tengiz - Novorossiysk» oil pipeline fully and timely for oil acceptance from Kashagan field. CPC pipeline system – one of the largest investment projects in the energy sphere with participation of foreign capital in the territory of CIS.
This time they will search for oil in deeper layers.
Prospecting works may already be resumed in the next year at the Aday block in the Kazakhstani part of Caspian sea. «Ocean Petroleum» LLP will deal with the project.
Petrochemical industry is one of the most important branches of the processing industry. We use its products nearly all the time. Four out of five items, surrounding us at any time, are created due to the petrochemical industry.
On July 5, on the eve of the birthday of President of Kazakhstan Nursultan Nazarbayev and the day of Astana, the shareholders of the joint venture Tengizchevroil in a meeting with Minister of Energy Kanat Bozumbaev announced a final investment decision for the Future Growth Project and Wellhead Pressure Management Project (FGP-WPMP), which will be the next stage of expansion of the Tengiz oil field in western Kazakhstan. The project is supposed to involve $37 billion and is the world’s biggest investment project in petroleum production this year.
Currently the Kazakhstan market of all light oil products is scarce-volumes of production of gasoline, diesel oil and aviation kerosene by local Oil Refineries is not enough to cover the domestic market's demand for these types of fuels. Basically, this deficit is covered by the import of oil products from Russia. So, on average for the period from 2011 to 2015 about 30% of demand for gasoline and jet fuel and 10% demand for diesel fuel covered at the expense of imports from the Refineries of the northern neighbor.
This November, the Annual Caspian Technical Conference and Exhibition (CTCE) - organised by the Society of Petroleum Engineers (SPE) – will return to Astana for its third year hosted by KazsMunaiGas from 1-3 November at the Palace of Independance