BAKU, Azerbaijan, September 7. Kazakhstan’s Minister of Energy Yerlan Akkenzhenov and Samsung E&A President and CEO Hong Namkoong discussed prospects for cooperation in oil refining, the ministry said.
This was announced by the press service of Kazakhstan’s Ministry of Energy.
According to the Ministry, in the course of the meeting, the sides discussed prospects for cooperation within the strategic project to develop a new oil refining and petrochemical complex in Kazakhstan.
"During the meeting, Samsung E&A was briefed on the current status of preparations for the project and key areas of its further implementation. Particular attention was paid to the technological configuration of the future complex, development of petrochemical production, attraction of private investment and the use of advanced engineering solutions", the ministry said.
Representatives of the South Korean company expressed interest in further studying the project and opportunities to participate in its implementation at subsequent stages.
According to the ministry, Kazakhstan is currently preparing a preliminary feasibility study for the new complex. At this stage, various options for its technological configuration, production specialization and location are being considered, taking into account the feedstock base and infrastructure.
Following the meeting, the sides expressed readiness to continue dialogue and further develop potential areas of cooperation.
Samsung E&A is one of South Korea’s leading engineering and EPC companies, with significant experience in implementing major projects in oil refining, petrochemicals and energy.
In May, the ministry reported that the project to construct Kazakhstan’s fourth large oil refinery had entered the practical stage. Work had begun on developing a preliminary feasibility study (pre-FS) for the project. The future large-scale complex is expected to have the capacity to process up to 10 million tons of oil per year.
