The signing ceremony took place at the Summit of the Eurasian Economic Union in Kazan with the participation of Mikhail Mishustin, Russian PM, Askar Mamin, Kazakh PM, and Rustam Minnikhanov, President of Tatarstan.
The development of further cooperation was confirmed with signatures by Nail Maganov, Gen. Director of TATNEFT, and Alik Aidarbayev, Management Board Chairman of KazMunayGas.
The parties plan in the letter of intent to work together in the implementation of geological exploration and oil and gas projects within Kazakhstan.
The competencies of TATNEFT allow forming scientific and technical proving grounds for exploration and field development, designing field development with the selection and implementation of well interventions, methods of enhanced oil recovery, etc.
The Framework Agreement and the roadmap for the butadiene production project became a logical continuation of the Agreement on the basic terms of interaction in the area of the TATNEFT and KazMunayGas oil/gas and petrochemical project signed on April 5, 2021.
A project company will be organized in accordance with the new documents and a pre-investment stage with performance of a feasibility study for the project will be carried out.
Nail Maganov said:
- 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 modeling, and well construction with our colleagues
The planned production capacity amounts to 186 000 tonnes of butadiene rubbers and 170 000 tonnes of isobutane per year.
