03.03.2021, 20:02 25743

Tokayev took part in Foreign Investors Council meeting

Welcoming the meeting, the President noted that the oil and gas industry plays a vital role in the development of Kazakhstan. We look with hope at the prospects of the oil and gas sector, both internationally and domestically.
Under the chairmanship of Kassym-Jomart Tokayev, a working meeting was held with the heads of oil and gas companies -members of the Foreign Investors Council under the President of the Republic of Kazakhstan in a video conference format, the presidential press office said.

Welcoming the meeting, the President noted that the oil and gas industry plays a vital role in the development of Kazakhstan. We look with hope at the prospects of the oil and gas sector, both internationally and domestically.

“We need to take advantage of the positive dynamics and determine further steps to increase the investment attractiveness of the industry in the long term,” he said.

The President focused on the timely implementation of agreements on major oil and gas projects.

“Despite the pandemic, the project for the future expansion of Tengiz is being implemented on schedule. We expect adoption of a full-scale development plan for Kashagan,” Tokayev said.

He announced the need to develop a modern and flexible mechanism for regulating investments in deep processing of hydrocarbons, and reminded of the instruction to the Government to develop specific measures on technology transfer and localization of production.

- I have always emphasized the importance of energy projects in creating in-country value, stimulating domestic technological and industrial development. Unfortunately, there has been little progress. We need new and bold steps, the President noted.

He instructed the Government to develop, together with the companies, a Roadmap for technology transfer and localization and report on this at the next meeting.

Tokayev also spoke about the newly created Front Office to address the problems of investors, emphasizing that the activities of this office should be proficient, with minimal bureaucratic procedures. The office should be empowered to resolve the investors’ problems and, if necessary, bring these issues to the level of the Oil and Gas Council under the Prime Minister.

Broaching the environmental issues, the President noted that Kazakhstan had supported the request of oil and gas companies to eliminate discrimination in the application of payment for environmental pollution when burning gas in flares.

At the same time, he pointed out, he expects from investors decisive and practical actions to improve the environment in the regions of its operation and reduce the carbon footprint.

Source: Kazpravda.kz




 
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