PETROLEUM. Analytical journal. New projects, fields’ development, production, processing and transportation of oil and gas, presentation of the companies, statistics on the production of hydrocarbons, monitoring of investment legislation.

Oil Chronicles. July 2024

July

July 1, QazaqGaz and Chevron Corporation, through its subsidiary Chevron Munaigas Inc., signed a cooperation agreement on geological exploration in the Zhalibek area of the Aktobe region, near the Zhanazhol and Urikhtau fields. Negotiations and technical preparations for this project have been ongoing for the past year. In the initial phase, Chevron will reprocess existing seismic data and develop technical interpretations. Both parties view the signed agreement as a potential start of broader cooperation.

Oil Chronicles. April 2024

April 1, Alibek Kuantyrov was appointed the new General Director of the KazEnergy Association, after resigning as Minister of National Economy in February 2022. His background includes working in the office of the first president of Kazakhstan and the Ministry of Finance. His connection to the oil sector is through a four-month tenure in 2013 as Deputy Chairman of the Committee on Geology and Subsoil Use. He succeeded 65-year-old Kenzhebek Ibrashev, who had led KazEnergy since April 2021.

Oil Chronicles. June 2024

June 2, at the OPEC+ meeting, held for the first time in Riyadh rather than Vienna, participants agreed to extend the voluntary oil production cuts until the end of 2025. The countries decided to prolong the additional voluntary reductions of 1.65 mln barrels per day, initially announced in April 2023, until the end of December 2025.

Oil Chronicles. February 2024

February 1, the Ministry of Energy of Kazakhstan, in collaboration with the National Chamber of Entrepreneurs Atameken and Kazakhtelecom, which acts as a single operator, launched a one-year pilot project for the labeling and tracking motor oils from producer to consumer.

Oil Chronicles

December 2 in Dubai (UAE), the Chairman of KazMunayGas, Magzum Mirzagaliyev, and the General Director of AD Ports Group, Mohamed Juma Al Shamisi, in the presence of the President of Kazakhstan Kassym-Jomart Tokayev, signed a Principles Agreement. The parties agreed to establish a joint working group to explore the potential construction of a ship repair and shipbuilding facility on the Caspian Sea coast in Kazakhstan.

Oil Chronicles. October 2023

October 4, shareholders of Phystech II at an extraordinary general meeting decided to transfer voluntarily and gratuitously 100% of the company's voting shares, valued at 35.417 billion tenge (about $72 million), to the state as a gift. The main asset of Phystech II is the Karazhanbas North field in the Mangistau region, with reserves of 39.5 million barrels of oil.

Oil Chronicles. June 2023

June 1, KMG PetroChem (a subsidiary of KazMunayGas) and Tengizchevroil signed the principal terms of agreements required to implement the Gas Separation Complex (GSC) project. The GSC, with a capacity of 9.1 bln cubic meters of dry gas per year, will be constructed at the Tengiz field. The GSC is an infrastructure designed to produce ethane used as raw material at the polyethylene plant (the "Polyethylene" project).  

Oil Chronicles. January - February 2023

January 11, Kazakhstan's Minister of Energy, Bolat Akchulakov, announced plans to supply 1.5 mln tons of oil to Germany via the Druzhba pipeline in 2023. KazTransOil JSC has received confirmation from the Russian Federation's Ministry of Energy to transport 300 thous. tons of Kazakstanih oil through Transneft's main pipeline system towards the Adamova Zastava oil delivery point for further supply to Germany in the first quarter of 2023. The oil transit will be carried out under an agreement between the governments of Kazakhstan and Russia dated June 7, 2002.