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By TT News| Apr 29, 2021

Tatneft And KazMunayGas Join Hands For Oil Fields And Butadiene Development Projects

Tatneft and NC KazMunayGas signed an agreement to develop joint projects on geological exploration and development of oil fields, as well as for the production of butadiene and its derivatives in the Republic of Kazakhstan.

The letter of intent was signed at the Summit of the Eurasian Economic Union in Kazan by Mikhail Mishustin, Prime Minister of the Russian Federation; Askar Mamin, Prime Minister of the Republic of Kazakhstan; and Rustam Minnikhanov, President of the Republic of Tatarstan. The development of further cooperation was confirmed with signatures by Nail Maganov, General Director of Tatneft, and AlikAidarbayev, Management Board Chairman of NC KazMunayGas.

The parties plan to work together and explorethe various Tatneft competencies that allow forming scientific and technical proving grounds for exploration and field development, designing field development with the selection and implementation of good interventions, methods of enhanced oil recovery, etc.

The butadiene production project is a continuation of the Tatneft and NC KazMunayGas oil/gas and petrochemical project signed on April 5, 2021. Tatneft plans to implement a project for the production of butadiene rubbers in the Atyrau region until 2025.

According to plans,finished products from the production of butadiene rubbers will be supplied to the KamaTyresKZ tyre manufacturing factory in the Karaganda region as well as for export to European countries, Russia, China, Turkey and others.

Nail Maganov, General Director of PJSC Tatneft, said, “Tatneft and KazMunayGas contribute to strengthening the Eurasian Economic Community, to the implementation of the EAEU Economic Integration Strategy.”

“Our joint projects with Kazakhstan are actively developing. We are happy to share our technologies and competencies in the field of field development, including design, geological and technical modelling, and well construction with our colleagues. Tatneft is always ready for an open dialogue with partners." (TT)

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