• KGS/USD = 0.01118 0%
  • KZT/USD = 0.00222 0%
  • TJS/USD = 0.09131 0%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01118 0%
  • KZT/USD = 0.00222 0%
  • TJS/USD = 0.09131 0%
  • UZS/USD = 0.00008 0%

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Tatneft to Explore for Hydrocarbons in Kazakhstan

Kazakhstan’s national oil and gas company, KazMunayGas, and the Russian Tatneft will create a joint venture for geological exploration for hydrocarbons at the Karaton Podsolevoy subsoil area in the Atyrau region in western Kazakhstan, KazMunayGas has announced.  The two companies signed agreements for the project on February 21st in the Russian city of Kazan. Tatneft is headquartered in the nearby town of Almetyevsk.  According to the agreements, KazMunayGas is selling Tatneft a 50% stake in Karaton Operating Ltd., the operator of the Karaton Podsolevoy project. In June 2023 KazMunayGas received a contract to explore and produce hydrocarbons at the Karaton Podsolevoy area and in September 2023 registered a private company, Karaton Operating Ltd., to implement the project. In November 2023, KMG transferred the subsoil use right to Karaton Operating Ltd. “[Kazakhstan’s president Kassym-Jomart Tokayev] set the task of attracting foreign investment in the raw materials sector and geological exploration,” commented Magzum Mirzagaliyev, chairman of the board of KazMunayGas. “In this regard, we held negotiations with a number of investors and are pleased that our partner in the Karaton Podsolevoy project has become the Tatneft company, which has extensive experience in the field of geological exploration and development of oil and gas fields.”  Mr Mirzagaliyev added that drilling of the first exploration well with a depth of 5,500 meters is planned for 2024.

Tajikistan Struggling With Cost of Imports

Compared to 2022, Tajikistan imported 164,200 tons more oil products in 2023, an increase of 11.6%, Safarali Qurbanzoda, the Anti-Monopoly Service's first deputy head has announced. “According to the customs office, in 2023, 1,413,000 tons of oil products worth $892 million were imported into the republic with an average price of $631 dollars per ton. More precisely, 436,500 tons of diesel fuel, 348,100 tons of gasoline, 411,000 tons of liquefied gas and 218,000 tons of petroleum products were imported,” he stated at a press conference. Qurbanzoda added that 25.9 % of these products came from Kazakhstan, and 0.7 % from Russia, with the cost of purchases increasing by 20%. Prices at gas stations in Tajikistan also increased throughout 2023. Buses in Khojand, the second-most populous city, were stopped in October 2023 because of a sharp spike in the cost of diesel fuel, according to a report from the regional portal, SugdNews. The anti-monopoly agency attributed the rise in domestic fuel prices to “increased prices in exporting countries.”

Kazakhstan And Hungary To Cooperate On Petrochemicals

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%). 

Turkmenneft Building Closer Relationship With UAE’s Dragon Oil

On February 6th the management of Turkmen state company Turkmenneft met with representatives of the Emirati oil & gas company Dragon Oil.  The delegation from Dragon Oil was led by the company's by CEO Ali Rashid Al-Jarwan, the International Information Center of Turkmenistan reported. The two sides discussed prospects for further cooperation in the oil & gas sector, taking into account their combined experience and Turkmenistan's large-scale plans for developing its fuel and energy complex.

Kazakhstan Extends Oil Exports To Germany

Germany has agreed to extend Kazakh oil imports for six months (January-June 2024) with a transportation volume of 100,000 tons per month. This comes as a result of a February 6th meeting between the chairman of Kazakhstan’s national oil and gas company KazMunayGas, Magzum Mirzagaliyev, and Johannes Bremer, the chairman of Rosneft Deutschland. Rosneft Deutschland GmbH is the third largest petroleum processing company in Germany. It is now under German government control, following Russia’s invasion of Ukraine and the introduction of EU sanctions on Russian oil imports.  Mr Mirzagaliyev and Mr Bremer announced that in 2023, 993,000 tons of Kazakh oil were transported through the Druzhba oil pipeline in Russia in the direction of Germany.  KazMunayGas’ head said that Kazakhstan was interested in increasing its oil exports to Germany. “I am confident that joint activities will be mutually beneficial and long-term for the benefit of the economies of our countries,” said Mirzagaliyev.

Kazakhstan Exported Close to a Million Tons of Oil to Germany in 2023

KazTransOil JSC, the national oil pipeline operator and a subsidiary of Kazakhstan’s national oil and gas company KazMunayGas, says it supplied 993,000 tons of oil to Germany in 2023. Oil from Kazakhstan is transported to Germany through the trunk oil pipeline system of the Russian state-controlled pipeline transport company, Transneft. In January 2024, KazTransOil plans to transport 100,000 tons of oil to Russia for further delivery to Germany. During 2024 as a whole, KazTransOil plans to ship up to 1.2 million tons of Kazakh oil to Germany via the trunk oil pipeline system of Transneft.

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