Beijing held talks between the leaders of JSC National Company KazMunayGas, JSC KazMunayGas – Refining and marketing and PetroChina Company Ltd. – a subsidiary of CNPC state corporation of China, partner of KMG-RM managing PetroKazakhstan Oil Products in Shymkent.
During the talks the President of KMG Sauat Mynbayev and Vice President of China National Petroleum Corporation Wang Dongjin KMG-RM and PetroChina have signed an agreement on further cooperation in oil refining in Kazakhstan.
The document provides for the development of collaboration in order to further ensure the internal market of Kazakhstan with quality petroleum products.
In addition, PetroKazakhstan Oil Products and China Petroleum Engineering & Construction Corporation (abbreviated to CPECC) have inked a supplementary agreement to a contract on the implementation of Phase-2 of the Project of Shymkent Refinery Refurbishment and Modernization aimed to increase plant capacity. The supplementary agreement sets a firm price of the EPC-contract on the basis of the positive state expert conclusion obtained by PetroKazakhstan Oil Products for its Project’s design and estimate documentation.
PetroChina is the largest company is the structure of the Chinese state oil corporation CNPC managing assets in mining, refining, petrochemicals and natural gas. The controlling stake is owned by CNPC.
CPECC is an oil engineering and construction company, a division of CNPC, which has extensive experience in the implementation of major investment projects around the world including China and Kazakhstan.