ASTANA, Kazakhstan, September 8. Chinese Sinopec Corp. interested in participating in new oil and gas projects in Kazakhstan, which could lead to an influx of even greater investments into the country's oil and gas industry, Trend reports.
This was stated during a meeting between President of Sinopec Corp. Yu Baocai and Prime Minister of Kazakhstan Alikhan Smailov.
Smailov noted that with the direct participation of Sinopec, a number of significant projects have been completed in the Kazakhstan, including the modernization of the Atyrau oil refinery.
He also said that the country has set a task for the accelerated development of petrochemical production.
In turn, the head of Sinopec Corp. noted that cooperation between Kazakhstan and China in the energy sector is developing at a high pace today. This makes a significant contribution to improving the well-being of the peoples of the two countries.
Kazakhstan has been cooperating with Sinopec for a long time. In particular, Kazakh KazMunayGas signed an agreement in the field of geological exploration of the subsoil of the country with China's Sinopec in May 2023. The document assumes a joint study of 17 exploration sites located within the main and poorly studied sedimentary basins.
China Petroleum & Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai. Sinopec Limited's parent, Sinopec Group, is the world's largest oil refining, gas and petrochemical conglomerate, headquartered in Chaoyang District, Beijing.
