ASTANA, Kazakhstan, February 27. Kazakhstan is putting its best foot forward in the gas industry with a new plant at the nation's Karachaganak, marking a significant leap into the big leagues, Trend reports.
The Ministry of Energy of the Republic of Kazakhstan held a meeting on the project to construct the Karachaganak Gas Processing Plant (KGPP) with a capacity of up to four billion cubic meters of gas per year. Minister of Energy of Kazakhstan, Almassadam Satkaliyev, met with representatives from "Karachaganak Petroleum Operating B.V." (KPO) and Hyundai Engineering Co Ltd.
The participants discussed key stages of the project, including working with Hyundai Engineering, which serves as the general contractor for design, procurement, and construction (EPC).
Satkaliyev emphasized that Kazakhstan attaches great importance to the development of the Karachaganak field and noted the importance of effective cooperation with contractors to complete the plant's construction on time.
"The construction of a new gas processing plant at Karachaganak is a strategically important step for the development of not only the field itself but the entire gas industry in the country. We will be able to significantly increase gas processing and provide the domestic market with commercial gas. This is a truly large-scale project, and we are confident that it will be successfully implemented," stressed Satkaliyev.
The parties confirmed their commitment to the timely implementation of the project and emphasized that the Final Investment Decision (FID) is expected to be made in 2025.
"Karachaganak Petroleum Operating B.V." (KPO) is a consortium managing the Karachaganak oil, gas, and condensate field in Kazakhstan. KPO operates one of the largest gas condensate fields in the world, discovered in 1979. The field is located in the northwest of Kazakhstan and covers an area of over 280 square kilometers.
Hyundai Engineering Co., Ltd. is a South Korean contractor specializing in design, procurement, and construction (EPC) in various industries, including oil and gas. Founded in 1947 by Chong Ju Young, it is part of the Hyundai Motor Group. The collaboration between KPO and Hyundai Engineering Co., Ltd. is aimed at implementing large-scale projects in Kazakhstan's energy sector, including the construction of gas processing plants and other infrastructure facilities.