ASTANA, Kazakhstan, March 27. KazMunayGas JSC (KMG, Kazakhstan's national oil and gas company) and Italian Eni have discussed the progress of the project for the construction of a hybrid power plant in the city of Zhanaozen (wind 77 MW, solar 50 MW, and gas 120 MW), Trend reports.
The discussion took place during a meeting between the head of KMG, Magzum Mirzagaliyev, and the Eni delegation led by Director of Exploration and Production, Luca Vignati.
It was highlighted that KMG and Eni are now completing all of the essential preparations for the implementation project.
"I thank Eni for collaborating and sharing knowledge on this critical project in the sphere of energy transition. We look forward to further fruitful cooperation in this area of activity," Mirzagaliyev said.
To note, on January 18, 2024, in Rome, the parties signed a joint decision on the implementation of a project for the construction of a hybrid power plant in the city of Zhanaozen, Mangystau region.
At the same time, the parties focused on preparing to drill the first exploratory well in the Caspian Sea's Abay area, as well as implementing the next stages of development of the Kashagan and Karachaganak fields, with the priority of increasing commercial gas production.
Furthermore, meeting attendees emphasized the successful export of Karachaganak oil to German refineries via the Transneft system. Oil shipments from the Karachaganak field is expected to continue along this route through 2024.
Meanwhile, currently, over 300 Italian companies are successfully operating in Kazakhstan, including major investors like Eni, SDF Group, PetroValves, Maire Tecnimont, IVECO, Tenaris, and others.
Italy consistently ranks among the top five largest EU investors in the Kazakhstani economy. The cumulative inflow of investments over the past 17 years has surged to $7.3 billion. By the end of last year, their volume witnessed an almost 2.5-fold increase, totaling around $300 million.
