BAKU, Azerbaijan, December 4. Kazakhstan hopes to expand cooperation with Azerbaijan in the gas sector, the Deputy Director General for Production at KMG-Karachaganak, Andrey Kan, told Trend.
He made the remark on the sidelines of the SPE 2025 Caspian Technical Conference in Baku.
"We highly appreciate the cooperation between Azerbaijan's State Oil Company SOCAR and our national company KazMunayGas," Kan said.
According to him, SOCAR is interested in exploration projects in Kazakhstan.
"I also believe that we have good prospects for cooperation, including in gas production and gas chemistry. Closer cooperation between Kazakhstan and Azerbaijan will help us to be stronger in the global market," he concluded.
In 2022, KazMunayGas and the State Oil Company of Azerbaijan (SOCAR) signed an agreement on the transit of Kazakh oil.
Meanwhile, in 2024, KazMunayGas and SOCAR reached an agreement on a phased increase in oil transit through Azerbaijan.
KazMunayGas, the national oil and gas company of Kazakhstan, serves as the state's representative in the sector, overseeing activities related to the exploration, extraction, refining, and transportation of hydrocarbons. Established in 2002, the company integrates a network of over 190 affiliated organizations.
The ownership structure of KazMunayGas is comprised of the Samruk-Kazyna National Wealth Fund, which holds a 90 percent stake, and the National Bank of the Republic of Kazakhstan, which owns the remaining 10 percent.