KazMunayGaz to continue resource extraction in Caspian Sea

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KazMunayGaz, a state oil and gas company in Kazakhstan, will continue exploration and resource extraction in the Caspian Sea and realization of projects on land, Lyazzat Kiinov, CEO of the company, said at an expanded session of the National Welfare Foundation Samruk-Kazyn, Trend reports.

The official added that the company will purchase a 10% share in the Karachaganak Project and continue oil extraction in Kashanag and development of the Tengiz Project.

KazMunayGaz plans to expand the Caspian Pipeline Consortium and construct the Kazakhstan-China Pipeline and the Beyneu-Bozoy-Shymkent Gas Pipeline. Reconstruction and modernization of Kazakh refineries is planned. Construction of a bitumen factory at the Aktau plastic mass factory is planned.