Nazarbayev, Lukoil CEO meet in Astana

ASTANA. KAZINFORM Head of State Nursultan Nazarbayev has met with President of PJSC Lukoil Oil Company Vagit Alekperov, Kazinform reports citing the Akorda press service.

The sides discussed further development of investment cooperation in oil and gas sector.

The Kazakh President noted positive dynamics and efficiency of partnership relations between KazMunayGas and Lukoil.

"We have been cooperating with Lukoil, one of the largest Russian companies of Russia, for a long-period of time. You are also one of the most important Russian investors in Kazakhstan. Lukoil has invested around $9bn in our economy," said the Head of State.

Nursultan Nazarbayev expressed interest in further strengthening of the investment collaboration with the Russian company.

Vagit Alekperov informed Nursultan Nazarbayev of the plans on joint implementation of Zhenis project, in regards to exploration and extraction of hydrocarbons in the Kazakh section of the Caspian Sea.

The Head of State was also briefed about the course of construction of a lubricants plant in the territory of Kazakhstan.

"The capacity of the plant is expected to make 100,000 tonnes per annum. The plant will specialize in production of almost all types of oil lubricants," stressed Alekperov.

The sides also discussed joint work on search for new hydrocarbon deposits with the application of new technologies as well as participation of the Russian company in 2021-2025 geological exploration programme developed by the Ministry of Energy.