Investment Projects
Corporate Project Management
In 2024, KMG continued to enhance its Corporate Project Management System (CPMS):
- Project management documentation was updated;
- The second edition of the CPMS desktop guide was published;
- The second Project Management Conference was held, with the participation of 150 specialists;
- Nine project management courses were conducted for 500 employees of KMG and its subsidiaries; 63 employees received IPMA certification.
In 2025, the Company plans to further develop its expert system and form a pool of project managers.
Investment Portfolio Overview
KMG’s investment portfolio includes projects in exploration, transportation, oil refining, petrochemicals, and sustainable development. As of the beginning of 2025, the portfolio’s value is estimated at KZT 51,270 billion (KMG’s share – KZT 19,390 billion).
In 2024, final investment decisions were made for key projects totaling KZT 4,972.3 billion (KMG’s share – KZT 3,558.8 billion), including:
- Phase 2 of the Gas Chemical Complex in Atyrau (polyethylene production and construction of a gas separation complex);
- Modernization of JV CASPI BITUM LLP (increasing refining capacity to 1.5 million tonnes per year).
IMPLEMENTATION OF INVESTMENT PROJECTS IN 2024
Exploration and Production - Geological exploration work has been conducted on the North Ozen, Zharkyn, Berezovsky, Mugodzhary, and Bolashak fields;
- Drilling of exploration wells PZ-1 (depth 5,500 m) has begun on the Turgai, Karaton Podsolevoy, Karazhar, and Taysoygan fields;
- Drilling of the first well at the “Abai” field has been completed;
- Five wells connected at Rozhkovskoye field with a raw gas output of 1.4 million m³/day;
- Well EU-6 commissioned at the Urikhtau field with a production increase of 90.3 tonnes/day;
- Project design initiated for Kalamkas-Sea, Khazar, and Auezov fields.
Major Projects – Tengiz, Kashagan, Karachaganak - Tengiz: Future Growth Project nearing completion (99.95 % readiness), commissioning expected in Q2 2025;
- Kashagan: Development of Phases 2A and 2B underway to increase output to 710 thousand bbl/day;
- Karachaganak: 5th compressor project completed; construction of the 6th compressor at 67.5 % readiness.
Oil Refining - Commissioning work nearly complete on the liquefied gas treatment unit at Pavlodar Refinery;
- Modernization started at Atyrau Refinery to process up to 1 million tonnes of Tengiz oil;
- Capacity expansion underway at JV CASPI BITUM LLP;
- Transition to three-year inter-repair cycles launched at Atyrau Refinery, Pavlodar Refinery, and Petrokazakhstan Oil Products.
Petrochemicals - The warranty tests of the PP unit have been completed, and a demonstration run of the polypropylene production plant took place. The range of grades has been expanded (10 grades), and production amounted to approximately 249 thousand tonnes;
- Design of the polyethylene production facility completed; EPC contract signed with Tecnicas Reunidas and Sinopec Engineering, early construction work initiated;
- Pre-feasibility study completed for the project “Production of terephthalic acid and polyethylene terephthalate (PET)”;
- Framework agreement signed between KMG and CNPC on construction of a gas chemical complex for ammonia and carbamide production.
Sustainable Development Projects - Main construction completed at the Kenderli desalination plant project; launch planned for 2025;
- A hybrid power plant (gas + renewables) under construction in the Mangystau region;
- With the participation of the European Bank for Reconstruction and Development, KMG-Aero, and Air Astana, a feasibility study was conducted for a sustainable aviation fuel (SAF) production plant.
- The implementation of these projects supports business diversification, carbon footprint reduction, and Kazakhstan’s energy security.
