KMG and Eni discuss progress of joint projects at Kashagan and KarachaganakKazMunayGas (KMG) Chairman Askhat Khassenov and Eni's Chief Operating Officer Guido Brusco discussed the progress of their joint projects, focusing on the continued development and long-term plans for the Kashagan field.The talks, held in Houston, also addressed enhancing local content in large oil and gas projects in Kazakhstan. KMG reported that local content in NCOC (North Caspian Operating Company) reached 62.1% ($656.4 million) and 65% ($679.6 million) in KPO for 2024.In addition, discussions covered the construction of a gas processing plant at the Karachaganak field, with a processing capacity of 4.5 billion cubic meters of raw gas annually. Khassenov emphasized the significance of this project for the country.KMG and Eni continue their collaboration in geological exploration, with KMG inviting Eni to co-invest in a new set of projects. "KMG has developed a new portfolio of projects and invited the Italian company to co-invest," the statement said.The two partners are also working on a 247 MW hybrid power plant project in Mangistau, with the solar component expected to be completed in Q3 2025, followed by the hydro and wind farms in 2026.Khassenov praised the successful partnership with Eni, recognizing it as a reliable partner. "We greatly value our productive cooperation with Eni, which has proven itself to be a reliable partner of Kazakhstan. We will continue our joint efforts to strengthen our positions in international markets and carry out long-term projects that enhance energy security and promote sustainable economic growth for our countries," Khassenov concluded, according to the statement.Kashagan is the first offshore oil and gas field in Kazakhstan’s sector of the Caspian Sea and the largest international investment project in the country. Its recoverable reserves are estimated at 9 to 13 billion barrels of oil. Commercial production began on November 1, 2016, and in 2023, 18.8 million tonnes of oil were extracted from the field.The shareholders of NCOC (North Caspian Operating Company) include KMG Kashagan B.V. (16.877%), Shell Kazakhstan Development B.V. (16.807%), Total EP Kazakhstan (16.807%), AgipCaspian Sea B.V. (16.807%), ExxonMobil Kazakhstan Inc. (16.807%), CNPC Kazakhstan B.V. (8.333%), and Inpex North Caspian Sea Ltd. (7.563%).The Karachaganak field is one of the largest in the world. Its development is carried out under a 40-year production sharing agreement (PSA) signed in 1997. The Karachaganak Petroleum Operating B.V. consortium includes Shell (29.25% through its affiliate BG Karachaganak Ltd.), Eni (29.25%), Chevron (18%), Lukoil (13.5%), and KazMunayGas (10%). (ICE ALMATY)

Fonte notizia: INTERFAX