BAKU, Azerbaijan, July 31. China's Sinopec has expressed interest in expanding cooperation on geological exploration projects with Kazakhstan's national oil and gas company KazMunayGas (KMG), KMG reports.
The issue was discussed during a meeting between KMG Chairman Askhat Khassenov and Sinopec Group Chairman Hou Qijun as part of Khassenov's working visit to Beijing.
"Sinopec is currently KMG's strategic partner in the Berezovsky exploration project in Kazakhstan's West Kazakhstan region. The project is being implemented on a 50/50 basis, with the Chinese company financing the exploration stage", KMG said.
According to the agreed work plan, 900 line kilometers of 2D seismic surveys are scheduled to begin before the end of this year. The minimum work program also предусматривает 300 square kilometers of 3D seismic surveys to support the planning of a complex ultra-deep exploration well with a target depth of 7,000 meters.
The parties also reviewed progress on the construction of Kazakhstan's polyethylene plant, which will have an annual production capacity of 1.25 million tons. Construction is currently underway on the project's two key process units - pyrolysis and polymerization - while the first pieces of oversized equipment have already been delivered to the site. Overall project completion has exceeded 34%, with work proceeding according to schedule.
In addition, the sides discussed the operations of their joint oil-producing venture, Kazakhoil Aktobe. Under its production growth strategy, the company aims to increase annual oil output from 500,000 tons to 800,000 tons by 2028 through the deployment of advanced geological and engineering solutions, including drilling new vertical, directional, and horizontal wells.
The meeting also covered opportunities for cooperation in carbon capture, utilization and storage (CCUS) technologies. KMG expressed interest in establishing a joint working group to develop CCUS projects by leveraging Sinopec's expertise.
