December 8 in Almaty, Chairman of the Management Board of JSC NC “KazMunayGas” Magzum Mirzagaliyev took part in the meeting of the Council of the Kazakhstan Association of Organizations of Oil, Gas and Energy Complex “KAZENERGY”.
At the meeting of the Council of “KAZENERGY” M. Mirzagaliyev was elected Chairman of the Association.
He thanked the Board and members of the association for their support and also noted the successful collaborative efforts within the organization in terms of brownfields support.
“I believe that this work must necessarily continue, as maintaining production volumes at the fields will save jobs, ensure the need of domestic refineries in oil and, accordingly, the need of the country in petroleum products,” – said the head of KMG.
He also mentioned that on the initiative of the Head of State Kasym-Jomart Tokayev, Kazakhstan introduced the Improved Model Contract (IMC), which promotes further development of activity in the domestic oil and gas industry. The first contract for hydrocarbon production on the terms of the UMK for hydrocarbon production under complex projects was signed in February 2023 at the subsoil area “Kalamkas Sea, Khazar and Auezov”, located in the Kazakhstan sector of the Caspian Sea. “KazMunayGas” is developing this offshore project together with a strategic partner.
M. Mirzagaliyev also dwelled on the issue of further development of oil and gas chemical industry in Kazakhstan.
“There is an urgent need to develop and adopt the Law on Oil and Gas Chemical Industry, regulating the issues of providing raw materials, implementation of oil and gas chemical projects, development of further processing. Support of the Association in this matter is important for KMG”, – he added.
The head of KMG also touched upon Kazakhstan’s plans to achieve carbon neutrality by 2060, which will require further development of Kazakhstan’s Emissions Trading System and its integration with the global market, as well as additional efforts with regard to carbon pricing, development of RES, hydrogen and geothermal energy, application of carbon capture, utilization and storage (CCUS) technology.
“The world needs oil as a basis of stability for the energy transition, and KazMunaiGas is going to provide this while developing green energy. We are investing in the development of low carbon projects. We are working on a number of initiatives to build power plants with renewable generation,” Mirzagaliyev concluded.