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Kazakhstan Trans-Caspian International Transport Route KazMunayGas

KazMunayGas, Eni discuss prospects for oil exports via Trans-Caspian route

ASTANA, Kazakhstan, June 21. KazMunayGas (KMG, Kazakhstan's national oil and gas company) and Eni have discussed prospects for oil exports via the Trans-Caspian route, TurkicWorld reports.

Negotiations on this topic took place between the Chairman of the Board of KMG, Askhat Khassenov, and Seger Hoytink, Chairman and Managing Director of Eni Kazakhstan.

Thus, the parties reviewed the progress of preparatory work for drilling a well at the Abay site, planned for the near future, and the prospects for oil exports along the Trans-Caspian route and through the Transneft system in the direction of oil refineries in Germany.

At the same time, the interlocutors discussed the current status of expansion projects for the Kashagan field, the construction of a gas processing plant at the Karachaganak field to supply commercial gas to the domestic market, as well as issues of developing Kazakhstani content.

In addition, the parties considered the implementation of the project for the construction of a hybrid power plant in the city of Zhanaozen. Soon, KMG and Eni plan to complete the procedures for creating two joint ventures (for a power plant operating on renewable energy sources and for a gas power plant).

Furthermore, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year. Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.

In 2023, gas production in Kazakhstan amounted to 59.063 billion cubic meters, including large fields such as Tengiz (16.009 billion cubic meters), Karachaganak (22.385 billion cubic meters), Kashagan (11.856 billion cubic meters), and others (8.813 billion cubic meters). Kazakhstan is projected to produce 60.456 billion cubic meters of raw natural gas in 2024.

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