KazMunayGas, Yokogawa to collaborate on refinery decarbonization and automation
ASTANA. Jan 16 (Interfax) - JSC KazMunayGas (KMG) National Company and Japan's Yokogawa Electric Corporation have signed a memorandum of understanding as part of a meeting between Kazakhstan's Energy Minister Almasadam Satkaliyev and Japan's Minister of Economy, Trade and Industry Ken Saito in Astana, KMG's press service said in a statement on Monday.
"The memorandum defines opportunities for developing cooperation between the parties in the analysis and implementation of financing mechanisms from the Japanese government in the field of decarbonization, using technologies from Yokogawa Electric Corporation and its subsidiary, KBC Advanced Technologies. The companies have also agreed to cooperate in the areas of personnel training at KMG enterprises and the use of advanced solutions on automation at oil refineries," KMG said.
The document should have a positive impact on the mining and processing industries, especially in terms of operational efficiency and reduction of greenhouse gas emissions.
The document was signed by Deputy Chairman of the Board of KMG Dmitry Makeyev and General Director of Yokogawa Electric Kazakhstan LLP Tsutomu Murata.
KMG is the national operator for exploration, production, processing and transportation of hydrocarbons. The company represents the state interests in the oil and gas sector of Kazakhstan. Kazakhstan, as represented by the Samruk-Kazyna National Wealth Fund, the National Bank, and the Finance Ministry, owns 97% of the shares, and the remaining 3% are in free float.
Yokogawa provides high-tech solutions and services in the measurement, control and information segments for various industries, such as energy, chemicals, manufacturing, pharmaceuticals, food and water. The company operates in 61 countries. The corporation generated net income of 38.9 billion yen in 2022.
The first Yokogawa service technical center in Kazakhstan was opened in the city of Atyrau in 2011 with the goal of training and technically advising specialists, as well as providing support and post-warranty service. The center's clients include KMG, oil refineries, thermal power plants and other enterprises.