KazMunayGas and Sinopec review joint projects
- Berezovsky exploration is a 50/50 KMG–Sinopec project, with Sinopec funding the exploration phase.
- 2D seismic acquisition of 900 linear km is scheduled to start by the end of this year, followed by 300 km2 of 3D acquisition ahead of a planned 7,000 m ultra‑deep well.
- A 1.25 MMtpa polyethylene plant is under construction; work on pyrolysis and polymerization units is underway, first large equipment delivered and overall progress exceeds 34%.
- KazakhOil Aktobe aims to increase oil production from 500 Kt to 800 Kt by 2028 using modern geotechnical solutions, and KMG proposed a CCUS joint working group with Sinopec.
Berezovsky exploration
During a meeting in Beijing KMG and Sinopec reviewed the Berezovsky exploration project, implemented on a 50/50 basis with Sinopec funding the exploration phase. The work plan schedules 2D seismic acquisition of 900 linear km to begin by the end of this year, followed by 300 km2 of 3D seismic for detailed planning ahead of a planned 7,000‑metre ultra‑deep well.
Polyethylene plant
The 1.25 MMtpa polyethylene production plant is under construction; construction is underway on the pyrolysis and polymerization units, the first large‑scale equipment has been delivered to site, and overall project progress exceeds 34%, with work proceeding according to schedule.
KazakhOil Aktobe production plan
The parties reviewed operations at the joint venture KazakhOil Aktobe and set a target to raise oil production from 500 Kt to 800 Kt by 2028, planning to implement modern geotechnical solutions including drilling new vertical, directional and horizontal wells.
Further cooperation and CCUS
Sinopec expressed interest in expanding cooperation on other KMG exploration projects. The discussion also covered Carbon Capture, Utilization and Storage (CCUS) possibilities, and KazMunayGas expressed interest in establishing a joint working group to implement relevant projects using Sinopec's expertise.
Source: KMG