Location:
Sector: Energy
Source of funding: Quasi-governmental; China National Petroleum Corporation
Total cost: USD 100 mln
Implementer: KazMunayGaz
Start (of construction): 2018
Planned completion: 2020
INVESTORS SUMMARY
China National Petroleum Corporation (CNPC) is the world’s 3rd largest oil company based in China and plays a leading role in China's petroleum industry. It integrates the business portfolios of both an oil company and an oilfield service provider, with operations covering the entire oil and gas industry value chain. Having oil and gas assets and interests in over 30 countries, it is playing a greater role in the global petroleum circle. In Kazakhstan, CNPC mainly operates five oilfield development projects (CNPC AktobeMunaiGas, North Buzachi, PK, KAM and ADM), two exploration projects, the Kazakhstan-China Crude Oil Pipeline, the Northwest Crude Pipeline, and the Second Phase of the Kazakhstan-China Gas Pipeline, etc.
JSC NC "KazMunayGas" was founded in 2012, and is Kazakhstan's national operator for exploration, production, refining and transportation of hydrocarbons, representing the state in Kazakhstan's petroleum sector. The Company’s mission lies in maximizing the Shareholders’ profits from participation in the development of the national petroleum industry.
DESCRIPTION OF THE PROJECT
Construction of the plant will ensure import substitution for 70% of pipeline products imported into Kazakhstan.
The project is included in the roadmap for Kazakhstan’s industrialization and the China’s BRI. The project for the production of welded steel pipes became possible following the meeting of President Nazarbayev and President Xi Jinping in 2014; the programme of integrated strategic cooperation in the oil and gas industry was signed between joint-stock company (JSC) KazMunayGaz and CNPC.
THE PURPOSE OF THE PROJECT
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