Kazakhstan's KazMunaiGaz, China's Sinopec ink MOU for oil development
MOSCOW. September 22. KAZINFORM Kazakhstan's KazMunaiGaz and China's Sinopec have signed a memorandum of understanding agreeing to work together in multiple projects in Kazakhstan, KazMunaiGaz said Thursday.
The companies intend to cooperate in Kazakhstan or in third countries in oil exploration and production, gas processing, refining and petrochemicals, engineering and technical services and information technology, KazMunaiGaz said.
According to Platts, Sinopec Tenth Construction, a subsidiary of Sinopec Group, in September 2009 was awarded a $1.04 billion contract to build a 500,000 mt/year aromatics facility at Kazakhstan's 120,000 b/d Atyrau oil refinery.
The facility, under construction since April, will produce up to 133,000 mt/year of benzene and 496,000 mt/year of paraxylene, KazMunaiGaz said in 2009. It will be built in two phases and is scheduled to be online by 2013.
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