President of Kazakhstan, Kassym-Jomart Tokayev received Magzum Myrzagaliev, the Chairman of the Board of NC KazMunayGas, to discuss the company's performance and future plans, Akorda reported. The meeting involved a comprehensive review of the operating and financial activities of KazMunayGas for the year 2023.
As per the data presented during the meeting, KazMunayGas experienced notable growth in key production indicators in comparison to the previous year, showcasing the company's commitment to enhancing its operational efficiency.
One of the major highlights of the discussion was the development of export routes for Kazakh oil. Notably, raw material supplies to Germany and towards Azerbaijan through the Baku-Tbilisi-Ceyhan oil pipeline were initiated. The company also expanded its tanker fleet in collaboration with partners from the United Arab Emirates.
President Tokayev was briefed on the progress of initiatives aimed at increasing the production of commercial gas, ensuring a steady supply of petroleum products to the domestic market, attracting investments, and advancing petrochemical projects, in line with his directives.
Magzum Myrzagaliev also reported on the advancements in the offshore project "Kalamkas-Sea, Khazar, Auezov" in the Kazakh sector of the Caspian Sea and the ongoing geological exploration program.
Furthermore, the Chairman provided an update on social projects undertaken by KazMunayGas in the regions where the company operates. Notable achievements included the completion of the first phase of the Astrakhan-Mangyshlak main water pipeline reconstruction and the commencement of the construction of a new desalination plant for the city of Zhanaozen.
President Tokayev issued several instructions pertaining to the implementation of investment projects, maintaining the stability of hydrocarbon export routes, and expanding the scope of geological exploration work. He emphasized the crucial role of KazMunayGas in focusing on the development of the petrochemical industry.
About KazMunayGas
Established in 2002, KazMunayGas represents the Republic of Kazakhstan in the oil and gas industry. The company's growth strategy for the next decade involves increasing the resource base, improving current production efficiency, extending the value chain, and incorporating modern technologies to reduce the carbon footprint. Employing over 47,000 people, KazMunayGas is a significant contributor to the Kazakh economy, prioritizing sustainable development while respecting the interests of its stakeholders.
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