Hungary has expressed interest in sourcing Kazakh oil for processing at Hungarian refineries and exploring the export of gas condensate from the Rozhkovskoye field, the press service of KazMunayGas (KMG) reported.
The announcement followed a meeting between the Kazakh delegation, led by Deputy Chairman of KMG Board Serikkali Brekeshev and Ambassador of Kazakhstan to Hungary Zhanibek Abrashov, with Hungary's Deputy Minister of Foreign Affairs Levente Magyar and representatives from the Hungarian company MOL Group.
The meeting centered around key aspects of oil and gas chemistry cooperation. Topics included the development of the Rozhkovskoye field, the supply of crude oil and gas condensate, and collaboration in deep gas processing.
KMG highlighted the potential benefits of a collaborative oil and gas chemical project using the Rozhkovskoye field as a gas feedstock. Given the interest shown by the Hungarian side, a joint action plan has been devised to kickstart the implementation of this promising project, as outlined in the report.
The Rozhkovskoye field, a significant gas condensate field, commenced commercial operations in the West Kazakhstan region on December 21, 2023. It is expected to yield approximately 1 billion cubic meters of gas and over 500 thousand tons of condensate annually. The production of liquefied gas for domestic market delivery is projected to surpass 150 thousand tons per year.
MOL Group, headquartered in Budapest, stands as the leading integrated oil and gas corporation in Central and Eastern Europe. Operating in over 30 countries with a global workforce of 25,000, MOL's exploration and production activities are supported by 80 years of hydrocarbon expertise.