As informed by Mr. Yerbolat Dosayev, Minister of Economy and Budget Planning of the Republic of Kazakhstan, in connection with the suspension of Kashagan field operation, the negotiations on the increase of oil production and exports from other fields will be held with the major subsoil users.
JSC E&P KazMunayGaz abandons the White Bear project, as informed by Mr. Abat Nurseitov, Head of E&P KMG: "We leave this project, because our expectation and calculations were not fulfilled, the drilled well was dry. A company, which proposed this block, has already left the project”.
It is planned to privatize 26 subsidiaries of KazMunayGaz, said Umirzak Shukeev, Chairman of Board of the JSC National Welfare Fund Samruk Kazyna. "There is a preliminary list of companies that match the specified criteria (for transfer to the competitive environment- KazTAG).
Kazakhstan’s share in the production sharing project of the largest oil and condensate field Karachaganak will increase up to 36 % in 2014, said Kenzhebek Ibrashev, General Director of PSA LLP. "In the current year it is expected to change the ratio of profit oil for the benefit of the Republic of Kazakhstan. Compared to the first quarter, the second quarter of 2014 will bring to Kazakhstan more profits in form of hydrocarbons for 9%. Kazakhstan's revenues consist of two parts: profit oil and compulsory payments to the budget and taxes.
The Board of Directors of Rompetrol Group N.V. decided to change the company’s name to KazMunayGaz International N.V. As explained by Zhanat Tusupbekov, Managing Director on External Processing and Marketing, JSC NC KazMunayGaz, General Director of Rompetrol Group, “changing the name of Rompetrol company is a part of KMG strategy on promoting a single brand of the Group.
Export customs duty (ECD) for crude oil in Kazakhstan has increased up to $ 80 per ton. The relevant decree of the Government of the RoK as of March 11, 1998, is published in the official mass media.
Frank Kuijlaars, Executive Director of the Board of Directors of KMG, has been appointed as the Chairman of the Board of Directors of the National Company KazMunaygaz, as mentioned in the extract from the Protocol of the Samruk Kazyna Board Meeting, published at KASE web-site.
According to 2013 estimates, the consolidated oil and condensate production volume, taking into account the share of KazMunayGaz National Company, was amounted to 22.6 million tons, or 101% of the plan. In comparison with 2012, the volume of production increased by 1.2 million tons, or within 6%.
Zhaikmunai LP, which is developing Chinarevskoe oil deposit (at the Western Kazakhstan region), signed a Supplementary Agreement with the Ministry of Oil and Gas of the Republic of Kazakhstan to two contracts for exploration and production of hydrocarbons.
The Ministry of Oil and Gas of the Republic of Kazakhstan has identified three basic scenarios: "Big oil", "economy" and "pragmatic". The Minister of Oil and Gas Uzakbai Karabalin stated: "This happened due to a variety of reasons.
Three blocks are put for petroleum exploration bidding in the territory of the Republic of Kazakhstan according to the governmental Decree # 1379 as of December 20, 2013. The first one is Kosbulak block in Kizilordinskaya region, a block nearby the Munaily field, another one in Mangistauskaya region and the last and third block - Aiday - in Atirauskaya region.
As the press-service of the Company informs, a full-scale construction of the Deep Oil Refining Complex (DORC) at the Atyrau refinery will begin in the second quarter of 2010. Currently, the design of the facility, placing orders for the supply of equipment and materials, is being carried out.
Kuanysh Zhylkyshiev was designated as the Deputy General Director of KazTransGaz JSC. As it was informed from the Public Relations Department, the relevant order has been signed on January 21 by the Company’s Head Seric Sultangaly.
On January 20 the Central Office of KazRosGaz LLP has introduced to the Company’s team the new General Director (Chairman of the Board): Baizakov Aibek Sabitovich. This decision has been accepted by the participants of KazRosGaz LLP (KazMunaiGaz JSC Oil Company and Gazprom OJSC).
On January 30, 2014 in Almaty PetroKazakhstan Oil Products LLP (owned on a parity basis by NC KazMunaiGas JSC and CNPC) and Chinese company CPECC entered into the contract for the detailed engineering, procurement of equipment and materials and implementation of construction and installation work (EPC contract), as part of PKOP's transition to practical implementation of the Shymkent Refinery Modernization Project.
According to estimates by Derrick Petroleum Services, oil and gas assets totalling more than USD135 bln were put up for sale in the third quarter of 2013, and by the mid-December they fell slightly to USD126 bln, - the Rusenergy informs with reference to The Financial Times.