OREANDA-NEWS. August 06, 2012. Investment companies of China, Slovenia and Kazakhstan plan to jointly construct an oil refinery in the north of Kazakhstan, Newskaz.ru reports, citing the oblast governor’s press service.

The project will be implemented within the state-run program of oil refineries development in 2009-2015. Talks on the project were held at the meeting of the oblast governor Serik Belyalov with the KazEnergoRegion investment company headed by Kazhymkan Massimov.

The facility is to be constructed in the town of Bulayevo. At the initial stage the facility will be capable of handling up to 5 million tons of oil a year. The investments are estimated at USD 2 billion. In future, the processing capacities can be brought up to 10 million tons a year, according
to the press service.

Mr. Kazhymkan Massimov said that two other cities might be home to oil processing facilities funded by investors from Slovenia and China.

Late October 2011 Ms. Sholpan Khaidargaliyeva, Director for Petrochemistry Department of the country’s Oil and Gas Ministry, said that Kazakhstan-based three refineries [in Pavlodar, Atyrau and Shymkent] process a total of 13-14 million tons of oil a year. Following the planned overhaul of the three facilities, the overall volume of processed crude will stand at 17 million tons.

In May 2011 Oil and Gas Minister Sauat Mynbayev told Kazkahstan might construct a new oil refinery by 2020.