BAKU, Azerbaijan, September 7. Kazakhstan’s
Minister of Energy Yerlan Akkenzhenov and Samsung E&A President
and CEO Hong Namkoong discussed prospects for cooperation in oil
refining, the ministry said.
This was announced by the press service of Kazakhstan’s Ministry
of Energy.
According to the Ministry, in the course of the meeting, the
sides discussed prospects for cooperation within the strategic
project to develop a new oil refining and petrochemical complex in
Kazakhstan.
"During the meeting, Samsung E&A was briefed on the current
status of preparations for the project and key areas of its further
implementation. Particular attention was paid to the technological
configuration of the future complex, development of petrochemical
production, attraction of private investment and the use of
advanced engineering solutions", the ministry said.
Representatives of the South Korean company expressed interest
in further studying the project and opportunities to participate in
its implementation at subsequent stages.
According to the ministry, Kazakhstan is currently preparing a
preliminary feasibility study for the new complex. At this stage,
various options for its technological configuration, production
specialization and location are being considered, taking into
account the feedstock base and infrastructure.
Following the meeting, the sides expressed readiness to continue
dialogue and further develop potential areas of cooperation.
Samsung E&A is one of South Korea’s leading engineering and
EPC companies, with significant experience in implementing major
projects in oil refining, petrochemicals and energy.
In May, the ministry reported that the project to construct
Kazakhstan’s fourth large oil refinery had entered the practical
stage. Work had begun on developing a preliminary feasibility study
(pre-FS) for the project. The future large-scale complex is
expected to have the capacity to process up to 10 million tons of
oil per year.
