KazMunayGas seals a number of agreements with foreign companies at an investment forum in Aktau

September 27, 2012

Almaty. September 26. Interfax-Kazakhstan – Kazakhstan’s national company KazMunayGas (KMG) has signed a number of memorandums and agreements with foreign companies, large oil and gas operators and the administration of the Mangistau Region at an investment forum that took place on September 24-26, 2012 in Aktau (the administrative center of the region), KMG says in a press release.

The mentioned forum is called “Investment Forum: Creation of New Production Facilities in West Kazakhstan”.

KMG concluded a memorandum of understanding with the administration of the Mangistau Region and the Italian company Castle Oil&Gas Fields Services LLC. In accordance with the memorandum the two companies will team up to look into a project for creation of an industrial park in Zhanaozen (a town in the Mangistau Region).

KMG also signed a memorandum of understanding with the administration of the Mangistau Region and Aktiv Solar Gmbh (Austria) aimed at a project for construction of a photoelectric module plant in the special economic zone “Aktau Seaport”.

The company sealed a memorandum of understanding with the administration of the Mangistau Region and Altyn KDT which plans to build a bituminous rock processing complex at the Beke field in the Mangistau Region that will process 2.5 million tons a year.

Another memorandum of understanding is between KMG and DKG-East, Hungary’s leading manufacturer of oil and gas equipment. The Hungarian company intends to build an oil and gas equipment plant in Kazakhstan.

“In accordance with the document KMG will render all necessary support for the project. Capital expenditures are expected to come to around $15-20 million. After reaching its design capacity the plant will employ about 130-150 people,” the press release says.

In addition, KMG concluded an agreement with Samruk-Kazyna Invest LLP, the administration of the Mangistau Region and Vallourec&Mannesmann Tubes (VMT, France, Germany) to build a pipe fitting plant.

“The project will make Kazakhstan less dependent on fitting exports. The plant will be built in the special economic zone “Aktau Seaport,” according to the press release.

A memorandum of understanding signed with China National Petroleum Corporation (CNPC) will allow the Chinese company to build an oil and gas equipment plant in west Kazakhstan.

As a result of the forum KMG, Tengizchevroil, North Caspian Operating Company and Karachaganak Petroleum Operating adopted a joint declaration aimed at creation of a coordinating organization called KazSupplyChain and a working group tasked with defining synergetic effects, monitoring the current programs for local content development and stimulating supply of local goods.

National Company KazMunayGas JSC is a national operator for exploration, production, processing and transportation of hydrocarbons. The company represents the state interests in the oil and gas sector of Kazakhstan. KazMunayGas is wholly owned by Samruk-Kazyna National Welfare Fund.

Source: interfax.kz