ASTANA, Kazakhstan, July 3. KazMunayGas (KMG, Kazakhstan's national oil and gas company) and China Venture Capital (CVC) have signed a Memorandum of Understanding in the field of hazardous waste recycling and disposal, TurkicWorld reports.
The signing took place on the sidelines of the seventh meeting of the Kazakh-Chinese Business Council.
The parties agreed to cooperate in studying the possibilities of processing and neutralizing hazardous waste (oil sludge) using the pyrolysis method generated during the operation of oil fields by KMG and its subsidiaries.
In addition to this, KMG has signed a Memorandum of Understanding with Xinjiang HY Company, which will form the basis for mutually beneficial cooperation in the energy sector.
The companies intend to explore opportunities for joint exploration and development of oil and gas fields, including conducting comprehensive geological studies in deep-lying, promising areas.
Meanwhile, the volume of oil and gas condensate production by KazMunayGas amounted to 6.064 million tons (503,000 barrels per day) from January through March 2024. The volume of oil and gas condensate production grew by 1.7 percent compared to the same period in 2023.
At the same time, natural and related gas output climbed by 4.6 percent over the reporting period, reaching 2.52 billion cubic meters.
