Kazakhstan to set up 7 oil and gas joint ventures
Seven more joint ventures are set to be established in Kazakhstan’s oil and gas sector, as part of the efforts to boost the localization rate across the nation, Kazinform News Agency correspondent reports.
Kazakh Energy Minister Yerlan Akkenzhenov said on Tuesday, Kazakhstan has localized eight production facilities jointly with major international and domestic companies since 2022.
These include Germany’s Wika, the U.S. company Honeywell, Italy’s PetrolValves, Kazakhstan’s Sigma Solutions in partnership with American company N.Vent, U.S. company Schlumberger, Yeskertkish Kyzmet Kazakhstan, Malaysia's Euro Circuit Technology as well as South Africa’s Beruseal, he said during a government meeting.
According to Akkenzhenov, the projects boosted Kazakhstan’s expertise in production of high value-added goods.
In addition, the work is under way to localize seven more production facilities jointly with the world’s leading companies, including Leser, John Crane, Hi Air Korea, Baker Hughes, Breda Energia, Flowserve, Swagelok, in the oil and gas sector.
Earlier it was reported that Kazakhstan’s manufacturing output rose 7.2% year-over-year in April.
