Consortium of Kazakhstan"s engineering companies could be created in Kazakhstan

Kazakhstan Ministry of Industry and New Technologies has proposed to create the consortium of Kazakhstan companies as a part of the memorandum signed between the Kazakhstan government and Tengizchevroil oil and gas company, which has been developing a big Tengiz field, on November 15, 2013.

A source from the Ministry said that it is planned to create the consortium with the Kazakhstan Engineering national company as a leader. The consortium is needed to fulfill Tengizchevroil’s obligations in the multi-billion project of the future expansion of Tengiz field.

Aset Isekeshev, Deputy Premier, Minister of Industry and New Technologies, said  that Kazakhstan’s companies specializing in machine-building, services and engineering must be involved in increase in oil and gas production on Tengiz, Karachaganak and Kashagan fields. 

According to the Ministry, in the coming 15 years Kazakhstan will become the country of big projects. Over $300 billion will be invested into the oil and gas projects. 50% of the funds must be invested through the leader, which could be Kazakhstan Engineering national companies, and 50% could be invested by another companies – partners of the consortium. This is over $8 billion worth of orders only in the Tengiz field. The Ministry has been working on the similar approach to Karachaganak and Kashagan fields, reported http://oilnews.kz.--0--