Hungary, Kazakhstan to cooperate in petrochemical industry

A delegation of JSC NC KazMunayGas led by Deputy Chairman of the Management Board Serikkali Brekeshev and Ambassador of Kazakhstan to Hungary Zhanibek Abdrashov held a meeting with Hungarian Deputy Minister of Foreign Affairs Levente Magyar and representatives of Hungary’s MOL Group, Kazinform News Agency reports.

The sides discussed the key aspects of cooperation in petrochemical industry, including development of Rozhkovskoye field, supply of crude oil and gas condensate, as well as cooperation in advanced petroleum refining.

The Hungarian side expressed interest in receiving the Kazakh oil for the processing at Hungarian oil refineries and in export of gas condensate from the Rozhkovskoye field.

The KMG  delegation also briefed about the advantages of a potential petrochemical project with the use of gas from Rozhkovskoye field. A joint action plan on the start of its implementation was developed, given the interest showed by the Hungarian side.

Rozhkosvkoye is a large gas condensate field in the West Kazakhstan region put into operation in December 2023. Up to 1 billion cubic meters of gas and more than 500,000 tons of gas condensate are set to be extracted here. The annual output of liquified gas for the supply to the domestic market will exceed 150,000 tons.

MOL Group is a leading integrated oil and gas corporation of the Central and Eastern Europe headquartered in Budapest, Hungary. The company operates in more than 30 countries and employs 25,000 worldwide.