The brand new CEO of KazMunayGas, Askhat Khassenov, gave his imaginative and prescient of the corporate’s future. Khassenov, who took the management of the important thing oil and fuel firm of Kazakhstan, in his interview for the Kazakhstanskaya Pravda, native broadsheet, emphasised the necessity to optimize company requirements to hasten the processes and enhance efficiency.
Based in 2002, KazMunayGas has been a listed firm since 2022, actively engaged in oil and fuel exploration, manufacturing, processing, and transportation. In 2023, the corporate paid out a file 300 billion KZT (roughly USD 670 million) in dividends to its shareholders and contributed 1.2 trillion KZT (roughly USD 2.7 billion) in taxes to the nationwide finances, demonstrating regular and dynamic financial progress.
In 2023, Kazakhstan produced a complete of 90 million tons of oil (roughly 660 million barrels), of which 23.5 million tons (roughly 172 million barrels), or 26%, have been produced by KazMunayGas.
Khassenov famous that the corporate is actively investing in new initiatives, such because the Kalamkas Offshore-Khazar-Auezov improvement, valued at USD 6 billion, showcasing the bold improvement plans for the Caspian area. Deep-well drilling actions are at present underway within the Kyzylorda and Aktobe areas.
One of many firm’s excellent achievements is the launch of the KEBCO (Kazakhstan Export Mix Crude Oil) model, which has been actively quoted since final yr, underscoring Kazakhstan’s standing as a serious participant on the worldwide oil and fuel stage.
KazMunayGas additionally plans to broaden the capability of PetroKazakhstan Oil Merchandise LLP in Shymkent and improve the throughput of the Atyrau-Kenkiyak and Kenkiyak-Kumkol pipelines. In 2022, KazMunayGas’s native crops (the corporate additionally owns refining belongings in Romania) refined a file 17.8 million tons of crude oil, demonstrating the robust potential of Kazakhstan’s present refineries.
By way of petrochemical initiatives, the corporate is implementing polyethylene, polyethylene terephthalate, and urea initiatives, regardless of their long-term payback intervals and excessive prices. Notably, Kazakhstan efficiently constructed and launched a high-quality polypropylene manufacturing plant in 2022, with a capability of 500 thousand tons, and now exports massive volumes of polypropylene to China and Europe.
The corporate is actively working to cut back the environmental footprint of its operations, together with ecosystem rehabilitation and emission discount initiatives. Over the past 5 years, KazMunayGas has lowered greenhouse fuel emissions by 15%. Moreover, Kazakhstan, in collaboration with the American biotechnology firm LanzaJet, is critically exploring large-scale manufacturing of eco-friendly aviation gas (SAF). An article detailing the venture’s start-up prospects is accessible on the corporate’s web site.
Askhat Khassenov’s interview gives the look of a charismatic chief. His imaginative and prescient for the corporate’s improvement conjures up optimism and confidence in the way forward for KazMunayGas. Time will inform to what extent these bold plans might be realized, however the firm’s severe and protracted systematic efforts already command respect.
