ASTANA, Kazakhstan, February 5. KazMunayGas and MOL Group are strengthening bilateral cooperation by discussing the expansion of oil supplies to Europe, Trend reports.
Chairman of the Management Board of KazMunayGas JSC, Askhat Khassenov, met with Gabriel Szabó, Executive Vice President for Refining at MOL Group. The parties discussed current cooperation issues and plans for joint project implementation.
In particular, they touched on the prospects for expanding supplies of Kazakh oil to the European market. The progress of the joint development of the Rozhkovskoye gas condensate field was reviewed. In 2024, 301 million cubic meters of gas and 222,000 tons of condensate were produced at the field. For KazMunayGas, accelerating further development of Rozhkovskoye under Phase 2 with a focus on increasing local content is currently of particular importance.
The possibility of European company participation in
petrochemical projects in Kazakhstan was also considered.
"KazMunayGas is interested in expanding its strategic partnership
with MOL Group to attract investments, introduce new technologies,
and exchange experience. We look forward to continued mutually
beneficial cooperation with our Hungarian colleagues," emphasized
Askhat Khassenov.
To note, last year MOL Group and Kazakhstani national oil company
KazMunayGas (KMG) signed a cooperation agreement to jointly explore
opportunities in the oil, gas, and petrochemical sector. This
agreement builds on the successful joint venture in Kazakhstan,
where MOL, KMG, and Sinopec from China have been producing gas and
gas condensate at the Rozhkovskoye field.
MOL is Hungary’s largest oil and gas company, headquartered in Budapest. In the 2022 Forbes Global 2000 list of the world’s largest companies, MOL ranked 958th (610th in revenue, 653rd in net profit, and 1,538th in assets).