Prime Minister of the Republic of Kazakhstan Olzhas Bektenev held a series of bilateral meetings with the management of leading international energy companies, participants of the 38th plenary session of the Foreign Investors’ Council under the President of the Republic of Kazakhstan. In particular, with Luca Vignati, Director for Exploration and Production of Global Natural Resources at Eni S.p.A., and Lorenzo Simonelli, Chairman of the Board of Directors and Chief Executive Officer of Baker Hughes.

Olzhas Bektenev noted that the New Constitution of the Republic of Kazakhstan has entered into force today. Under the leadership of President Kassym-Jomart Tokayev, the country is implementing an investment cycle aimed at ensuring sustainable and diversified economic growth. Last year, the inflow of foreign direct investment exceeded $20 billion. This year, it is planned to attract over $25.5 billion in foreign investment into the country’s economy.

During the meetings, the current status of joint investment projects was discussed, as well as prospects for further development of cooperation in priority sectors of the economy.

During talks with Luca Vignati, Global Natural Resources Upstream Director of Eni S.p.A., attention was focused on the development of energy infrastructure. The progress of construction of the 247 MW hybrid power plant in Zhanaozen was reviewed, the implementation of which will contribute to the introduction of modern low-carbon technologies and enhance the resilience of the country’s energy system.

At the meeting with Lorenzo Simonelli, Chairman of the Board of Directors and Chief Executive Officer of Baker Hughes, issues of expanding production localization and implementing modern technological solutions in the oil and gas sector were discussed. To date, the company has localized the production of 174 types of spare parts in Kazakhstan, with about 100 items at the stage of joint development with Kazakhstani suppliers. At the same time, 95% of the company’s service operations are already performed by Kazakhstani divisions and specialists. It was noted that Baker Hughes intends to further expand localization, develop partnerships with domestic enterprises, implement digital solutions for monitoring industrial equipment, and participate in gas processing projects, the creation of modern production facilities, and decarbonization.

Following the negotiations, the parties confirmed their mutual interest in the further development of investment cooperation, the implementation of joint projects, and the expansion of technological partnership in the oil and gas sector.

#Olzhas Bektenov #Energy #International Cooperation #Investments #Oil & Gas

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