The Hungarian oil and gas company MOL Group has shown interest in a joint petrochemical project using natural gas from Kazakhstan’s Rozhkovskoye gas condensate field, the Kazakh national oil and gas company KazMunayGas has announced.
The potential partnership was discussed at a February 7th meeting in Budapest between KazMunayGas’ deputy chairman, Serikkali Brekeshev, Hungary’s deputy minister of foreign affairs, Levente Magyar, and executives from MOL Group.
The parties discussed cooperation in the field of petrochemicals and gas processing, including the development of the Rozhkovskoye field, supplies of Kazakh crude oil and gas condensate.
MOL Group expressed interest in the supply of Kazakh oil for processing at Hungarian oil refineries, as well as importing gas condensate from the Rozhkovskoye field.
The Rozhkovskoye gas condensate field was put into commercial operation in the West Kazakhstan region in December 2023. By 2040, the field is expected to produce 14.2bn cubic meters of natural gas and 7.1m tons of condensate. The field is operated by a joint venture of KazMunayGas (50%), MOL Group (27.5%), and China’s Sinopec (22.5%).