KazMunayGas, China’s state company agree to co-op in oil and gas production

The Kazakh company KazMunayGas (KMG) and the state oil company of the People’s Republic of China Shaanxi Yanchang Petroleum Group have agreed to cooperate to further expand the oil and gas industry in Kazakhstan, Report informs referring to KMG.

“KMG and Shaanxi Yanchang Petroleum Group signed a memorandum of cooperation on April 26, which provides for bilateral cooperation on the issues of capture, use and storage of CO₂, petrochemicals, exploration and development, oil and gas refining, as well as in the field of trade in import and export of products,” reads the message.

The documents were signed in Astana by Deputy Chairman of the KMG Management Board Serikkali Brekeshev and General Director of Shaanxi Yanchang Petroleum Group Zhang Kaiyong.

“The documents that we signed make an additional contribution to strengthening the strategic partnership between our companies in terms of low-carbon development and further expansion of the oil and gas industry in Kazakhstan,” noted Brekeshev.