Atyrau Invest -2017 Forum Kicked Off In Kazakhstan

Atyrau Invest -2017 Forum Kicked Off In Kazakhstan

IV International investment Forum “Atyrau Invest -2017” has kicked off in Atyrau on Wednesday.

The event is being held simultaneously with the “Global Oil&Gas Atyrau 2017” exhibition which has brought together 103 companies from 20 countries of the world.

“The organization of similar events with foreign investors’ participation gains great relevance to date, since we have been set a task of increasing the volume of investments and implementation of technologies meeting the best global practice,” Minister of Energy Kanat Bozumbayev said addressing the participants.

In February 2017, the Ministry of Energy increased the forecast volume of oil output in 2017 by 1.5mln tonnes – up to 81mln. More than half of this planned volume will be produced by the three largest deposits of the country: Tengiz – 27.5mln tonnes, Karachaganak – 11.85mln tonnes and Kashagan – 5-8.9mln tonnes. Compared to 2016, oil output is expected to rise by 3mln tonnes primarily due to commissioning of Kashagan. In 2016, Kazakhstan produced 78.04mln tonnes of oil against 75.5mln of planned volume.

The investment forum is being held under the patronage of the region’s akimat.

“Atyrau region is one of the most actively developing regions of Kazakhstan where more than 600 small and medium enterprises are concentrated. Their share in industrial production of the country makes about 24%. More than 30% of them were opened jointly with foreign investors. The last year forum attracted a record-breaking number of investments both into oil companies and socio-cultural and entertainment facilities,” First Deputy Governor of the region Gumar Dyussembayev said.

The main investment projects in 2017 will be linked to three largest deposits. In 2016, gold partners of the Global Oil&Gas Atyrau exhibition, North Caspian Operating Company and Tengizchevroil consortiums have already started to implement large projects at Kashagan and Tengiz with the total amount of investments exceeding $90bln. The decision on financing the implementation of the project of expanding Karachaganak gas-condensate deposit will be taken in 2017.

Investments in sustainable development of the region will be in spotlight as well.

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