Kassym-Jomart Tokayev Instructed to Attract Large Investors to Geological Exploration in Kazakhstan
The President of the Republic also drew special attention to the need for uninterrupted operation of the refinery.
President of Kazakhstan Kassym-Jomart Tokayev, during a meeting with the head of the Kazakh national company Kazmunaygas (KMG) Askhat Khasenov, gave instructions to attract large investors into geological exploration and the petrochemical industry. This was reported by the press service of the Kazakh leader.
“Kassym-Jomart Tokayev gave a number of instructions to attract large investors in geological exploration and the petrochemical industry, and also drew special attention to the need to ensure the uninterrupted operation of Kazakhstan’s oil refineries,” the statement said.
At the meeting with Tokayev, Khasenov reported on the progress of major investment projects, including the construction of a polyethylene production plant with a capacity of 1.25 million tons in the Atyrau region, and the development of a petrochemical cluster. The head of the national company also reported on geological exploration work to replenish reserves and maintain oil production levels, the report notes.
Earlier, the republican authorities reported that Kazmunaygas and Tatneft would create a joint venture to conduct geological exploration at the Karaton Podsolevoy subsoil site in the Atyrau region of Kazakhstan. An agreement on this was reached on February 21, 2024 in Kazan, where KMG and Tatneft signed a purchase and sale agreement (50% of shares in Karaton Operating Ltd.), a shareholders’ agreement and a financing agreement for the Karaton Podsalt project.
Also in February, it was reported that Tatneft is implementing a strategic investment project in the petrochemical industry, which is aimed at the production of butadiene and its derivatives in the Atyrau region.
