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KazMunayGas planning to increase crude oil deliveries to Black Sea area to 65 million tonnes per year
Kazakhstan's national oil and gas company KazMunayGas intends to increase crude oil supplies to the Black Sea region to 65 million tonnes per year by 2020, Charge d'affairs of Kazakhstan in Romania Talgat Kaliyev declared on Thursday at the Bucharest Forum - Energy 2013.
Kazakhstan will carry on with its cooperation plans with Romania. In the 2015 to 2020 timeframe, KazMunayGas intends to rise crude oil supplies to the Black Sea region to 65 million tons per year from the current 25 - 27 million tonnes a year. Rompetrol Group will also continue investing and expanding on the Romanian market, Kaliyev added.
The Kazakh company will also deliver crude oil to Bulgaria, the Republic of Moldova, and Ukraine.
The Petromidia Navodari refining facility has a total processing capacity of 6 million tonnes per year. The remaining amount of crude oil will be delivered to the neighboring countries, where demand exists, specifically to Bulgaria, Moldova, Ukraine. The crude oil will reach the Black Sea via Novorossiysk, the company official told Agerpres.
National sea shipping company KazMorTransFlot, part of KazMunayGas - which in turn is the sole Rompetrol Group shareholder - has expanded through the construction / acquisition of two Aframax oil tankers (115,000 dwt) its crude and oil product transport operations to the Black Sea and the Mediterranean. The investment in the 2 oil tankers amounted to over 100 million US dollars.
KazMunayGas also holds since 2008 the operator of the oil terminal in Georgia's port of Batumi, with an annual transit capacity of 15 million tonnes of crude oil, and is also a shareholder with the Caspian Pipeline Consortium (CPC), the operator of the crude oil transport pipeline linking the deposits in West Kazakhstan with the Russian Black Sea port of Novorossiysk. The states of Russia and Kazakhstan own 31 percent and 19 percent of CPC, respectively, while the rest is held by other operators.
Since the takeover of Rompetrol, KMG invested about 4 billion US dollars in the Romania-based group. Last year, Rompetrol Group completed the modernization of Petromidia that took the refinery's processing capacity from 3.8 million to 5 million tonnes per year.
Rompetrol Group is the only foreign acquisition of the state of Kazakhstan, providing access to over 300 million end-users in the Black Sea basin.