November 30, 2020
The Agreement on Intents is signed for the establishment of an International Centre for the Development of Oil & Gas Machinery Building

30 NovemberNur-Sultan. TENGIZCHEVROIL LLP, “North Caspian Operating Company N.V.” and “Karachaganak Petroleum Operating B.V.” (hereinafter “Operators”) report the signing of an Agreement on Intents to set up an International Centre for the Development of Oil & Gas Machinery Building (hereinafter “International Centre”). For the Republic of Kazakhstan, the document was co-signed by the Ministry of Industry and Infrastructure Development, Ministry of Energy, the Authority (PSA LLC.) and the Machinery Builders’ Union of Kazakhstan.

The intent is that the Centre will be established as part of the initiatives of the RoK Government and supported by major petroleum operators with the view to increase opportunities for the manufacture of goods for the oil and gas industry on the territory of the Republic, i.e. substitute equipment and materials, some of which are currently being imported from abroad. The International Centre will closely interact with relevant ministries, the Authority and petroleum associations involved in the development of the national oil and gas machinery building.

The International Centre’s main area of activity will be the support of Kazakhstani manufacturers in upgrading their business capabilities through potential localization of manufacturing in the RoK and adaptation of technical standards.

The International Centre will function on a non-commercial and non-loss basis with support from the major operators.