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Nazarbayev set new terms for use of oil and gas fields

23 мая 2012, 11:54
Photo courtesy of kmg.kz
Photo courtesy of kmg.kz
Summing up the 25th plenary meeting of Kazakhstan President’s Council of Foreign Investors, Nursultan Nazarbayev offered foreign oil and gas companies to develop Kazakhstan’s alternative economy in repayment for the rights to develop natural resources, Tengrinews.kz reports.

“Let me tell you what we want. Kazakhstan’s major oil and gas fields at the Caspian Sea and around it are important strategic resources of our people who have built an independent state first time in their history and become a country respected in the world. So we are calling all the investors who are developing these strategic resources, including our metallurgic companies, to invest into our development, into creation of the alternative economy, i.e. into our industrialization. We will offer you the investment projects,” Kazakhstan President said and gave the details of the new terms. “Provision of new fields for development or prolongation of contracts to work on the existing fields will be granted on terms of construction of industrial producing facilities. Our government will be actively participating and investing together with you. These will be your enterprises working for production and processing of oil and gas and metallurgic resources, creating new jobs, new technologies in Kazakhstan.”

Nazarbayev gave an example of Chevron that is setting up special factories for production of pipes and Total that has suggested to open a Welding Institute.

“Dear friends, this is not enough, we ask for a wider participation. This is a negotiation issue and we have to decide together to make it profitable both for Kazakhstan and for you. Dear investors, considering your vast experience in implementation of major projects in different industries, I am calling you to help form correct approaches in the policies of Kazakhstan’s technological development,” the President said.

By Renat Tashkinbayev

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