Hasenov reported that the group’s total oil and condensate production reached 23.8 million tons, exceeding 2023 levels by 1.3%. To maintain production levels, the company is implementing a Technological Challenges Program, which includes enhanced oil recovery methods tailored to each field.
The President was informed that the design phase has begun for the Kalamkas-More project, valued at $6.4 billion. Additionally, in 2024, drilling commenced on the Turgay Paleozoic, Karaton Podsolovy, Karazhar, and Taisoygan fields, which collectively hold more than 800 million tons of oil equivalent.
Hasenov also presented details about the company’s oil transportation figures, which rose 4% in 2024 to 83.6 million tons. The country’s domestic refineries processed 17.44 million tons of oil last year. To ensure the domestic market’s needs, measures were taken to increase the production of light oil products by 370,000 tons compared to 2023.
The Chairman of KazMunayGas shared that the company is currently working on a project to increase bitumen production to 750,000 tons per year at CASPI BITUM. Early construction work has also started on a $7.4 billion polyethylene plant, which will have an annual capacity of 1.25 million tons.
In Mangistau region, the construction of a desalination plant to provide high-quality drinking water for Zhanaozen residents is underway. Additionally, the construction of a hybrid power station with a capacity of 247 MW has begun.
The President was also briefed on the ongoing social projects across the country.
In closing, President Tokayev instructed the company to continue its systematic work in geological exploration, implementing large-scale investment projects, and developing the oil and gas chemical sector.
