Works on Caspi Bitum expansion project to be started in Q4-2024 - KMGConstruction and installation works on the project for capacity expansion of the Aktau bitumen plant (JV Caspi Bitum LLP) from 500,000 to 750,000 tonne per year will be started in the 4th quarter of this year, National Company KazMunayGas (KMG) said in a press release.During his visit to China, KMG CEO Askhat Khasenov held meetings with the leadership of China National Offshore Oil Corporation International Limited (CNOOC) and CITIC Group."At the meeting with the chairman of CITIC Group’s board of directors, Xi Guohua, the parties discussed the current status of the project for capacity expansion of the Aktau bitumen plant (JV Caspi Bitum LLP) from 500,000 to 750,000 tonnes of bitumen per year. Construction and installation works are expected to begin in the 4th quarter of this year," the press release says.Khasenov underscored the importance of commissioning the plant in March 2025 or before the start of the road repair season. He proposed that the project schedule should be revisited, which would require a 24-hour work schedule."Kazakhstan has been cooperating with CITIC Group in the oil and gas sector for over 15 years. We highly value our strategic partnership," Khasenov is quoted as saying.It is expected that the Aktau bitumen plant will return to operation after the expansion project in April 2025, Kazakhstan’s Energy Ministry said earlierThe project is aimed to increase the production of bitumen from 500,000 to 750,000 tonnes a year by increasing the processing of high-viscosity oil from the Karazhanbas field from 1 to 1.5 million tonnes per year.JV Caspi Bitum LLP said earlier that the original completion date of the project, which was the end of 2024, was later postponed until the beginning of 2025.JV Caspi Bitum LLP is the largest producer of road bitumen in Central Asia. The plant was built in 2010-2013 and put into operation on December 12, 2013. JV CASPI BITUM LLP was established by KazMunayGas and CITIC Kazakhstan LLP on a parity basis.The agreement between KazMunayGas and CITIC Group on the expansion project of CASPI BITUM in 2024-2025 was signed on October 17, 2023 during the visit of Kazakh President Kassym-Jomart Tokayev to China. Once the project is completed, Kazakhstan will become fully self-sufficient in bitumen.In January 2024, KazMunayGas signed an agreement with national highway operator KazAvtoZhol JSC on the supply of road bitumen to the domestic market. (ICE ALMATY)

Fonte notizia: INTERFAX