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Share of Kazakh content in procurement of oil and gas companies increased to $ 9 billion - Energy Ministry of Kazakhstan

September 30, 2015
The share of local content in the procurement of subsoil users in the oil and gas sector increased by 2.5 times, to $ 9 billion in 2014, Vice-Minister of Energy of the Republic of Kazakhstan Magzum Mirzagaliyev has said at the round table titled "Development of local content and integration processes" within the 10th Eurasian Forum of Kazenergy -2015 in Astana.

"Over the past 5 years, the total amount of local content in the procurement of subsoil oil and gas sector increased by 2.5 times, from $ 3.5 billion in 2010 to $ 9 billion in 2014," Mirzagaliyev said.

According to him, a number of measures are taken to increase the proportion of local content by developing a competitive domestic production, as well as creating an attractive environment for doing business with the Kazakh producers.

"One of the solutions is cooperation of Kazakhstani enterprises with leading foreign companies namely by establishing joint ventures, today we already have a number of successful experiences ," he said.

He added that Kazakhstan is using the conditions of the transition period as part of the WTO, which is expected to maintain the contractual obligations of local content in products before 1 January 2020, or until the end of the initial term of the contract.