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

30 September 2015 18:50
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Share of Kazakhstan’s content in procurement of oil and gas companies increased to $ 9 billion - Energy Ministry

ASTANA. KAZINFORM - The share of local content in the procurement of oil and gas companies has increased by 2.5 times, and reached $ 9 billion in 2014, Vice-Minister of Energy of the Republic of Kazakhstan Magzum Mirzagaliyev said at the round table themed "Development of local content and integration processes" within the 10th Eurasian Forum "Kazenergy-2015" in Astana.

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, Kazinform refers to Prime Minister of Republic of Kazakhstan. Official Web Site.

He stressed that cooperation of Kazakhstani enterprises with leading foreign companies namely by establishing joint ventures is one of the solutions of the problem.

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.


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