Expansion of cooperation in oil and gas addressed by Nursultan Nazarbayev and Zhou Jiping (CNPC)
11:31, 6 April 2013
ASTANA. April 6. KAZINFORM - The meeting also addressed the issue of expanding cooperation between the two countries in the petroleum sector, the press-service of the President informs. Nursultan Nazarbayev expressed his satisfaction with the dynamic development of relations in the field.
It was noted that at the present time in the oil sector around 10 joint projects are being implemented, the total cost of which makes $ 5 billion. 4 more major joint projects with a total value of over $ 18 billion are carried out concerning the transportation of energy resources.
Kazakhstan's President and head of CNPC also discussed the development of a comprehensive program of cooperation in the oil and gas industry, based on the principle of "access to raw materials in exchange for investment in oil refining and service projects."
Following the meeting, the national oil companies of the two countries signed an agreement on the basic principles of cooperation on expansion and operation of the Kazakhstan-China petroleum pipeline.