President Tokayev participates in Foreign Investors' Council working meeting

NUR-SULTAN. KAZINFORM – Head of State Kassym-Jomart Tokayev held a working meeting with heads of oil and gas companies – members of the Foreign Investors’ Council via videoconference. During the meeting, participants discussed in details the measures on further development and ways to boost investment attractiveness of the country’s oil and gas sector, Kazinform has learnt from the Akorda press service.

Addressing the meeting were Deputy Prime Minister of Kazakhstan Roman Sklyar as well as heads of such oil and gas giants as Eni S.p.A., Royal Dutch Shell, INPEX Corporation, Chevron, Exxon Mobil, CNPC, Total E&P. Head of Central Asia at Eni S.p.A. Luciano Vasques was the moderator of the meeting.

At the onset of the meeting, President Tokayev noted that the oil and gas sector has always played a significant role in the nationwide progress of the country. In his words, despite technological changes the sector will remain the driving force of Kazakhstan’s economy. As an oil-rich country, according to Kassym-Jomart Tokayev, Kazakhstan must make the best and most efficient use of the existing potential.

The Head of State set a number of priority tasks to the members of the Foreign Investors’ Council and the Kazakh Government.

Those include timely implementation of the projects on expansion of the Tengiz, Kashagan and Karachaganak fields, development of new mechanisms of investment, KPC gas debottlenecking project, deep conversion of hydrocarbons, as well as ensuring high share of Kazakhstani content in oil and gas projects.

The Head of State also noted the activity of the International Center for the Development of Oil and Gas Engineering established with the support of Chevron, Total, Eni, ExxonMobil and Agip. The Kazakh Government was instructed to create an effective system of technology transfer based on the world’s best practice.