2000-01-17 Kazak Corporate News

Article Index

Kazakhstan Weekly

Corporate News

Monday January 17, 2000

Oil & Gas

The national oil company, Kazakhoil, its Atyrau Refinery affiliate, and the Japanese firm Marubeni Corporation plan to sign a contract by the end of March for the renovation of the Atyrau Refinery, a source close to Kazakhoil told the Prime-Tass news agency.

The Japanese side is expected to prepare a contract by the end of February.

Kazakhoil and the Atyrau Refinery pledged to provide Marubeni with all the relevant information on technical details and equipment characteristics by January 15, and oil samples from fields in the Mangyshlak and Martyshinsk basins will be handed over by January 20.

The first stage of the project, which includes engineering work, equipment delivery and the construction of a new oil processing facility, is planned for completion by September or October 2000.

The Atyrau Refinery modernisation project, which will improve facilities for fractionating, the hydro-purification of diesel fuel, amino-purification, isomerisation and sulphur extraction, will boost the plant’s capacity to 4.3 million tonnes and cost an estimated USD 412 million. (Golden Eagle Partners)