ASTANA, Kazakhstan, October 25. The key elements of KazMunayGas' (KMG, Kazakhstan's national company) strategy for the coming years are to increase reserves through additional exploration both onshore and offshore the Caspian Sea and further develop the petrochemical business for the purpose of diversification, said Deputy Chairman of the Board of KMG Dmitry Makeyev at the III round table meeting on partnership in the energy industry in Beijing (China), Trend reports.
Makeyev noted that KMG’s main focus today is on expanding the value chain as part of the new sustainable development program.
"KazMunayGas is also committed to the ESG agenda and plans to reduce carbon dioxide emissions to contribute to solving the global problem of climate change. A corporate low-carbon strategy has been developed, defining climate factors and key decarbonization goals by 2031," he said.
According to him, for several years, KMG has been one of the country's leaders in the field of reporting on sustainable development and the implementation of ESG principles. Kazakhstan's national company annually publishes reports on greenhouse gas emissions.
In conclusion, the deputy head of KazMunayGas highly appreciated the cooperation between Kazakhstan and China in the petrochemical sector. He noted that it is mutually beneficial, contributes to the development of the economies of the two states, and improves the quality of life of the population.
The volume of oil and gas condensate production at KazMunayGas from January through July 2023 increased by 10 percent, reaching 11,860 tons.
The volume of oil transportation also increased by 5 percent to 39,309 tons.
The volume of processing of hydrocarbon raw materials at Kazakh and Romanian refineries increased by 4 percent to 10,109 tons.
