KazMunayGas, ExxonMobil intend to develop partnership

Photo: kmg.kz

Kazakhstan's KazMunayGas (KMG, the national oil and gas company) and ExxonMobil intend to develop a partnership, Trend reports.

This was announced during a meeting between KMG Chairman of the Board, Askhat Khassenov, and Cecile Rauline, Managing Director of ExxonMobil in Kazakhstan.

The parties discussed the current status of the implementation of the Tengiz and Kashagan projects, issues of the development of domestic petrochemicals, and Kazakhstani content.

Khassenov noted the unchanged course to strengthen the strategic partnership between KazMunayGas and ExxonMobil. He expressed hope for support from the US company for ongoing projects and new initiatives at KMG.

To note, ExxonMobil has invested more than $28 billion in Kazakhstan until the end of 2023.

ExxonMobil is a major international oil and gas company with a leading position in the energy and petrochemical industries. The company began its activities in Kazakhstan in 1993, becoming one of the first major investors in oil projects in the country.

The company owns: 25 percent of participation shares in Tengizchevroil LLP, which is developing the Tengiz field; 16.81 percent within the framework of the Production Sharing Agreement for the Northern Caspian Sea, which includes the Kashagan field; and 7.5 percent in the Caspian Pipeline Consortium.

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