Investments, Tengiz and geological exploration: What Kazakhstan and Chevron agreed on
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First Deputy Prime Minister Roman Sklyar has held a meeting with Executive Director of Chevron Eurasia Unit Derek Magness, Qazinform News Agency reports, citing primeminister.kz.
Minister of Energy Yerlan Akkenzhenov and Chairman of the Management Board of JSC NC KazMunayGas Askhat Khassenov took part in the meeting.
The meeting focused on the current state and prospects for the bilateral cooperation in the oil and gas sector.
Special attention was given to the Tengiz project, recognized as a flagship initiative of Kazakhstan-U.S. energy collaboration.
Derek Magness noted that thanks to Kazakhstan’s investment climate, the Tengiz project has achieved significant production results. He emphasized the predictability of the regulatory environment and constructive engagement with government authorities, which create conditions for long-term investments.
The Kazakh side expressed concern over the incidents that occurred at the Tengiz field, which led to the temporary suspension of production. Chevron’s management reported on the measures taken to eliminate the consequences of the incidents and the gradual ramp-up of oil production. The company’s leadership also assured that it will take concrete actions to prevent similar situations in the future and to ensure the reliable and safe operation of facilities
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Bangkok Interested in Expanding Cooperation and Strengthening Economic Ties with Kazakhstan
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Ambassador of Kazakhstan to Thailand, Margulan Baimukhan, met with the Governor of Bangkok, Chadchart Sittipunt, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the meeting, the parties discussed prospects for developing bilateral cooperation between Kazakhstan and Thailand, as well as expanding interaction between Bangkok and the regions of Kazakhstan and business communities.
Special attention was given to opportunities for cooperation in the fields of tourism, urban infrastructure, sustainable development, the implementation of "smart city" solutions, logistics, and the digitalization of urban services. Mutual interest was noted in the implementation of joint projects aimed at increasing investment attractiveness and promoting entrepreneurship.
The Kazakh diplomat informed about the key directions of the socio-economic development of Kazakhstan, as well as the constitutional reforms initiated by the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev.
M. Baimukhan emphasized Kazakhstan’s commitment to a multi-vector and pragmatic foreign policy, as well as its readiness to further expand comprehensive cooperation with Thailand.
Governor C. Sittipunt expressed interest in intensifying contacts with Astana and other regions of Kazakhstan, noting Bangkok’s potential as one of the leading economic, financial, and tourist centers in the region. He underlined the importance of exchanging experience in urban governance, digitalization, artificial intelligence, sustainable development, and infrastructure modernization.
The parties confirmed their intention to maintain regular contacts and facilitate the establishment of direct links between local authorities, business communities, and expert circles of cities and regions of the two countries.
At the conclusion of the meeting, an agreement was reached to continue the dialogue and work on specific initiatives and projects, including the organization of presentations on Kazakhstan’s trade, economic, and investment opportunities, as well as possible mutual visits.
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Kazakhstan’s Economic Opportunities Presented in Norway
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Economic seminar "Doing Business in Kazakhstan" was held in Oslo. The event was organized by the Embassy of Kazakhstan in Norway with the support of the EAST Chamber of Commerce and Industry of Norway (Østhandelskammeret) and the Confederation of Norwegian Enterprise (Næringslivets Hovedorganisasjon, NHO), Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
From the Kazakh side, the speakers included Ambassador of Kazakhstan to Norway, Adil Tursunov and the Chairman of the Board of the Chamber of International Commerce of Kazakhstan, Murat Karimsakov, from the Norwegian side, the speakers were the Ambassador Designate of Norway to Kazakhstan, Helene Sand Andresen, the Chair of the Board of Directors of the East CCI of Norway, Ronny Solberg and the Senior Advisor of the International Department, NHO, Katarina Sætersdal.
The seminar was attended by representatives of the Ministry of Foreign Affairs of Norway, the Confederation of Norwegian Enterprise, the East CCI of Norway, the Norwegian Export Financing (EKSFIN), Norwegian companies from various sectors, as well as embassies of foreign countries accredited in Norway.
During the event, conference participants positively noted the increased momentum in economic cooperation between the two countries over the past two years.
The Norwegian participants of the seminar highly appreciated the presentation of Kazakhstan’s trade, economic, and investment potential, and during the networking sessions, they initiated a number of potential joint projects.
As a result of the event, agreements were reached on the next steps to further develop bilateral economic cooperation, including holding the second meeting of the Kazakh-Norwegian Business Council in May 2026 in Astana.
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Energy Ministry submits request to U.S. on potential buyout of Lukoil’s assets
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The Ministry of Energy has sent a letter to the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury regarding the potential buyout of Lukoil’s share in projects in Kazakhstan, Qazinform News Agency reports.
At a briefing in the Majilis, Minister of Energy Yerlan Akkenzhenov stated that the Government had not approached Lukoil with a proposal to purchase its assets. However, he reminded that Kazakhstan holds a preemptive right to buy out the company’s stake.
At the end of last year, we already noted that under the law, Kazakhstan holds a preemptive right to acquire Lukoil’s assets should they be offered for sale. In this regard, the Ministry of Energy has submitted a corresponding request to OFAC," the minister said.
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Kazakhstan restores oil production at Korolev field - Energy Ministry
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Oil production at the Korolev field has been fully restored, while the phased restart of the Tengiz field has also begun, Qazinform News Agency reports, citing Kazakh Energy Minister Yerlan Akkenzhenov, speaking on the sidelines of the Majilis.
Production at the Korolev field has now been fully restored, and the phased launch of the Tengiz field is under way. We expect Tengiz to be fully operational within a week," Akkenzhenov said.
The minister noted that the process is technologically complex.
A total of 30 transformers of various capacities are installed at the field, most of them rated at 110 kV. Three of these, which are critical pieces of equipment, were damaged. We have restored part of their functionality, and the field is now being brought back online in stages. The first gas has already been produced," he added.
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Kazakhstan and ExxonMobil - Strengthening Strategic Partnership in Energy Sector
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Minister of Foreign Affairs of the Republic of Kazakhstan Yermek Kosherbayev held a meeting with Senior Vice President of ExxonMobil Peter Larden, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the meeting, the sides discussed ExxonMobil’s current operations in Kazakhstan, including its participation in key energy projects, and also considered avenues for further expanding investment cooperation and strengthening mutually beneficial economic ties.
Minister Kosherbayev highlighted the important role of ExxonMobil as one of the Kazakhstan’s key partners in the oil and gas sector, emphasizing the company’s contribution to the implementation of strategic projects, the stability of the energy market, and the activities of the Foreign Investors’ Council under the President of the Republic of Kazakhstan.
In turn, Senior Vice President Larden highly appreciated Kazakhstan’s efforts to improve the investment climate and create favorable conditions for foreign investors, expressing readiness to continue long-term cooperation in the interests of sustainable development of the country’s energy sector.
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Kazakhstan’s exports to SPECA nations rise by 15%
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Vice Minister of National Economy of Kazakhstan Assan Darbayev took part in the opening of the Economic Forum of the United Nations Special Programme for the Economies of Central Asia (SPECA) and in the 20th session of the SPECA Governing Council, held in Ashgabat (Turkmenistan), Qazinform News Agency reports with reference to the Ministry of National Economy.
Speaking at the opening of the Forum, Darbayev emphasized that SPECA has proven itself to be an effective regional platform that contributes to the deepening of trade and economic integration, the development of transport connectivity and the promotion of sustainable development in Central Asia. Kazakhstan, in turn, is ready to join the implementation of initiatives in the field of trade, logistics, sustainable infrastructure and innovation.
He noted that Kazakhstan's trade and economic cooperation with SPECA countries is showing steady positive dynamics. In January-November 2025, trade turnover between Kazakhstan and SPECA countries amounted to $8.7 billion, an increase of 10.1% compared to the same period last year. Exports from Kazakhstan grew by 15% and reached $6.7 billion, reflecting the expansion of Kazakhstani producers' participation in regional supply chains.
Kazakhstan's progress in simplifying trade procedures was also highlighted. In 2023, Kazakhstan fully implemented its obligations under the World Trade Organization Agreement on Trade Facilitation, becoming one of a few countries in the region to complete this process.
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