Kazakh oil and gas company Kazmunaigas (KMG), Chinese Sinopec and Hungarian MOL have put into commercial operation the large Rozhkovskoye gas condensate field in the West Kazakhstan region of Kazakhstan. According to the press service of the Government of the Republic, Prime Minister Alikhan Smailov took part in the launch of natural gas and condensate production via teleconference.

"The gas condensate field was discovered in 2008 as a result of a wide range of exploration activities. In the period up to 2040, it is planned to produce 14.2 billion cubic meters of crude gas and 7.1 million tons of condensate here. The right of subsurface use is held by a joint venture, which includes KMG (50%), the Hungarian company MOL Group (27.5%) and the Chinese Sinopec (22.5%). To date, about $534 million has already been invested," the report says.

It is planned that due to the development of the Rozhkovskoye field, the National Fund of Kazakhstan will be replenished by 501 billion tenge (more than $ 1 billion), the local budget — by 110 billion tenge (over $241 million). In addition, the shareholders plan to allocate at least 3.1 billion tenge ($6.8 million) for the socio-economic development of the region, as well as annually allocate 1% of the investment amount for the training of Kazakhstani personnel within the framework of contractual obligations.

The Head of Government stressed that this project is of strategic importance and is aimed at fulfilling the instructions of the President of Kazakhstan to attract investments in the exploration and development of new gas fields. Rozhkovskoye will become a source of additional volumes of natural gas. The raw materials produced at the field will be processed at the facilities of the Zhaikmunai company. The development is carried out in partnership with foreign partners, which has already allowed us to apply their experience in the preparation and implementation of the necessary design solutions," the Prime Minister said.

In the medium term, it is expected to launch several more gas projects, including Urikhtau Tsentralny (Aktobe region), Zapadnaya Prorva (Atyrau region) and Kalamkas (Mangystau region). "Together, they will give an increase in production in excess of 2 billion cubic meters per year. Together with international companies, 12 more promising exploration projects are being worked out, as well as projects for additional exploration of existing fields," Smailov explained.

In this regard, he drew attention to the fact that the growing needs of the population and industry require not only an increase in gas resources, but also its processing capacity. "The Head of State has set a task to bring the volume of commercial gas production to 30 billion cubic meters by 2030. In this regard, new gas processing plants will be built at the Kashagan and Karachaganak fields, as well as in the city of Zhanaozen," the Prime Minister concluded.