ASTANA, Kazakhstan, February 9. Hungary has expressed interest in the supply of Kazakh oil for processing at Hungarian oil refineries, Trend reports.
This was stated during the meeting of the KazMunayGas JSC (KMG, Kazakhstan national oil and gas company) delegation with the Deputy Minister of Foreign Affairs of Hungary Levente Magyar and representatives of the Hungarian company MOL Group.
Thus, the parties discussed key aspects of cooperation in the field of petrochemicals, including the development of the Rozhkovskoye field.
Also during the meeting, supplies of crude oil and gas condensate, as well as cooperation in the field of advanced gas processing, were discussed.
In addition, the Hungarian side expressed great interest in the export of gas condensate from the Rozhkovskoye field.
In turn, KMG representatives spoke about the benefits of a possible joint petrochemical project using the Rozhkovskoye field as a gas feedstock.
Meanwhile, a large gas condensate field, Rozhkovskoye, was put into commercial operation in the West Kazakhstan region in December 2023.
The gas condensate field was discovered in 2008 as a result of a wide range of geological exploration work.
It is planned to produce 14.2 billion cubic meters of raw gas and 7.1 million tons of condensate until 2040.
The subsoil use right is held by a joint venture comprising KazMunayGas (50 percent), Hungarian company MOL Group (27.5 percent), and Chinese Sinopec (22.5 percent).
To date, $534 million has already been invested in the field.
It is expected that due to the development of the Rozhkovskoye field, the National Fund of Kazakhstan will be replenished by 501 billion tenge (about $1.09 billion) and the local budget by 110 billion tenge (about $239 million).
In addition, the shareholders plan to allocate at least 3.1 billion tenge (about $6.75 million) for the socio-economic development of the region, as well as annually under contractual obligations to allocate 1 percent of the investment amount for the training of Kazakhstani personnel.
