Published: 07 February 2024

NC KazMunayGas JSC led by Serikkali Brekeshev, Deputy Chairman of the Management Board, and Zhanibek Abrashev, Ambassador of the Republic of Kazakhstan to Hungary, held the meeting with Levente Magyar, Deputy Minister of the Foreign Affairs of Hungary, and representatives of Hungarian MOL Group.

Within the scope of the meeting, the parties discussed the key points of cooperation in petrochemistry, including the development of the Rozhkovskoye field, delivery of crude oil and gas condensate as well as collaboration on advanced gas processing.

The Hungarian side expressed significant interest in crude oil supplies for further processing at Hungarian refineries as well as gas condensate export from the Rozhkovskoye field.

In its turn, KMG shared information on the benefits of the potential petrochemical project using the Rozhkovskoye field gas feedstock. The Hungarian side became interested in the prospective project, and a joint execution plan was developed to proceed with the project implementation.

For Reference

Rozhkovskoye is a major gas condensate field that came online on Dec 21, 2023, in the Western-Kazakhstan region. There will be about 1 bcma of gas and more than 300 kta of condensate are expected to be produced at the field. Liquified gas production capacity will exceed 150 kta for the domestic market.

MOL Group is the leading integrated oil and gas corporation of Central and Eastern Europe with the head-quarter in Budapest, Hungary. The company is active in over 30 countries and employs 25 thousand people worldwide. MOL’s activity in Exploration and Production is based on 80 years of work experience in hydrocarbon development.