KMG and Tatneft continue developing their cooperation
On 28 April 2021, JSC NC "KazMunayGas” (KMG) and PJSC Tatneft (Tatneft) signed a number of joint documents. The event was held in Kazan as a part of the Eurasian Economic Union Summit and was attended by Askar Mamin, Prime Minister of the Republic of Kazakhstan, Mikhail Mishustin, Prime Minister of the Russian Federation, Rustam Minnikhanov, President of the Republic of Tatarstan, Alik Aidarbayev, Chairman of the KMG Management Board and Nayil Maganov, General Director of Tatneft.
For the Butadiene project, the parties signed a roadmap for the project implementation and a framework agreement. According to the agreements, a project company will be organized and a pre-investment stage with project feasibility study will be implemented.
During the meeting an Agreement of Intent to implement projects for exploration and development of hydrocarbon fields in the Republic of Kazakhstan was also signed. Within the framework of the document, it is planned to carry out a set of measures to study and assess the possibilities of implementing geological exploration and oil and gas production projects in Kazakhstan, arrange scientific projects in the area, develop feasibility studies, design field development and construction, select and implement geological and technical activities and oil recovery increasing methods, etc. Moreover, the agreement will make it possible to consider joint opportunities in the area of alternative renewable energy, both in Kazakhstan and abroad.
“The documents we have signed today became a logical continuation of our fruitful cooperation with Tatneft. I am convinced that our acquired experience in prospecting and exploration, field development and petrochemicals will contribute to the effective work of the two companies, and our partnership will bring investments, technology and new workplaces to the oil and gas complex and economy of the country” - noted Alik Aidarbayev, CEO of KMG.
“Tatneft and KazMunayGas make their contributions to reinforcement of the Eurasian Economic Community, implementation of the EAEC Economic Integration Strategy. Our joint projects with Kazakhstan are actively developing. We are pleased to share our technology and competences in field development, including design, geological and technical modelling and well construction, with our colleagues. Tatneft is always open for a dialogue with partners” - emphasized Nayil Maganov, General Director of Tatneft.
As a reminder, on 5 April in Saran, Karaganda Region, an Agreement was signed by KMG and Tatneft for basic cooperation conditions under the Butadiene project. The butadiene rubber project in Atyrau Region is scheduled to be implemented by 2025. The capacity will be 186 thousand tonnes of butadiene rubbers and 170 thousand tonnes of isobutane. Finished products will be supplied to a tyre plant in Karaganda Region, and exported to Europe, Russia, China, Turkey, etc.