Kazakhstan, ExxonMobil align project objectives at Houston oil forum
As part of the international energy forum CERAWeek in Houston (USA), Kazakh Energy Minister Yerlan Akkenzhenov held a working meeting with ExxonMobil’s Upstream President Dan Ammann, Qazinform News Agency reports.
The sides discussed the current status of strategic partnership and the role of American capital in the country’s macroeconomy. Akkenzhenov stated that the oil and gas sector accounts for up to 20% of Kazakhstan’s GDP, with ExxonMobil being one of the largest investors in this sector. A significant achievement of joint work on key projects - Tengiz and Kashagan - is the high level of local content: the share of Kazakhstani specialists now exceeds 90%.
Special focus during the talks was placed to last year’s production results. The Kazakhstani minister positively assessed the successful completion of the Future Growth Project (FGP) at the Tengiz field. Regarding the North Caspian project (Kashagan), the meeting participants reviewed initiatives to increase production volumes and develop gas processing capacities necessary to create higher value-added products within Kazakhstan.
In addition to production issues, the diversification of export routes for the reliable transportation of Kazakhstan’s hydrocarbons was also discussed.
A key part of the negotiations focused on prospects for further development of oil and gas cooperation. The minister outlined a firm state position: long-term partnership should aim to ensure maximum economic benefit for Kazakhstan while maintaining the investment attractiveness of the sector for international partners.
Closing the meeting, the sides confirmed their mutual interest in the stable implementation of production expansion programs. Further cooperation will be built on the principles of transparent partnership and strict protection of the national interests of Kazakhstan.
Previously, Qazinform reported Kazakhstan and Shell strengthen cooperation in the oil and gas sector.
