31 Jan 2011 17:50

KazMunaiGas may launch $500-mln lubricant project at Shymkent refinery

ASTANA. Jan 31 (Interfax) - National Company KazMunaiGas (KMG) may carry out a $500-million project to produce lubricants as part of the Shymkent Refinery Upgrading Project.

"Some time ago the president gave an instruction to consider the possibility of launching lubricant production in Kazakhstan. The Shymkent refinery turns out to be the most suitable one for this purpose," Daniyar Tiesov, the managing director of KMG, told a Monday meeting of the Oil and Gas Ministry in Astana.

"The oil that is being extracted in the Kyzylorda region can be used to produce third grade lubricants," he said.

The project will require additional investments in the amount of $500 million, he said.