Kazakhstan eyes expansion of oil and gas equipment manufacturing
Kazakh Prime Minister Olzhas Bektenov held a series of bilateral meetings with executives of leading international energy companies participating in the 38th Plenary Session of the Foreign Investors’ Council chaired by Kazakh President Kassym-Jomart Tokayev, Qazinform News Agency cites the Government's press service.
The meetings included Luca Vignati, Global Natural Resources Upstream Director of Eni SpA and Lorenzo Simonelli, Chairman and Chief Executive Officer of Baker Hughes.
Bektenov noted that Kazakhstan's new Constitution entered into force today and said the country, under the leadership of President Kassym-Jomart Tokayev, is pursuing an investment-driven strategy to ensure sustainable and diversified economic growth. He added that foreign direct investment exceeded $20 billion last year, with more than $25.5 billion expected to be attracted in 2026.
The parties reviewed the progress of ongoing joint investment projects and discussed prospects for expanding cooperation in priority sectors of the economy.
The meeting with Vignati focused on the continued development of Kazakhstan's energy infrastructure, including the construction of a 247-MW hybrid power plant in Zhanaozen. Once completed, the project is expected to promote the use of modern low-carbon technologies and strengthen the country's energy system.
Meeting with Simonelli centered on expanding local manufacturing and deploying advanced technologies in the oil and gas sector. Baker Hughes has localized the production of 174 types of components in Kazakhstan, while work is underway with local suppliers on nearly 100 more. The company said that Kazakh subsidiaries and specialists now perform 95% of its service operations in the country.
Baker Hughes also reaffirmed its commitment to expanding local production, strengthening partnerships with domestic manufacturers, introducing digital solutions for industrial equipment monitoring, and participating in projects involving gas processing, advanced manufacturing and decarburization.
The meetings wrapped up with both sides reaffirming their commitment to expanding investment cooperation, implementing joint projects, and deepening technological partnership in the oil and gas sector.
Earlier, Qazinform News Agency reported that Prime Minister Olzhas Bektеnov had emphasized that the new Constitution of Kazakhstan provides a strong institutional foundation for long-term reforms and modernization.
