Astana, 30 November 2016 - Karachaganak Petroleum Operating B.V. (KPO) took part in the conference Kazakhstan: New Investment Opportunities under the auspices of the Ministry of Investment and Development.

The conference was attended by the representatives of leading international organizations and development institutions, diplomatic missions, the media and the business community.

In his speech, the Minister for Investment and Development of the RK Zhenis Kasymbek reported on the Government measures to improve the investment attractiveness of Kazakhstan and the progress made in this regard over recent years. The great investment potential of the Republic, both for foreign and domestic investors in a variety of sectors of the economy was praised by the representatives of the European Bank for Reconstruction and Development, the European Business Association and the National Agency for Export and Investment KAZNEX INVEST.

Plenary session of the conference ended with the award ceremony for the best foreign investors in 2016. KPO became the award winner in the nomination for the investment activity in development of local content in the Republic of Kazakhstan. The award was presented by the Minister of Investment and Development of the RK Zhenis Kasymbek. Other awardees included the Foreign Investors Council, the European Bank for Reconstruction and Development, Tenaris Company, Marubeni Corporation, Heidelberg Cement and others.

Receiving the award on behalf of the Company, Marat Karimov, KPO Vice General Director, noted that 2016 was very intensive: KPO participated in implementation of a number of initiatives to increase local content. He added: "In general, KPO and Karachaganak partners remain true to their commitment to develop and strengthen the capacity of local producers.  The program, developed in close cooperation with the Authority (LLP PSA), fully meets the interests of the Republic in terms of development of new lines of goods and services, and the participation of domestic companies in the major oil and gas projects such as Karachaganak”.

For information: KPO is one of the first companies in the Republic, which successfully implemented the local content development program. Currently, over 3.900 local suppliers are registered in KPO vendor database. For nine months of 2016, the proportion of local content in KPO contracts for the supply of goods, works and services exceeded 50%, which correspond to about $400 million in monetary terms.  On the whole, since signing the FPSA in 1997, the share of local content in KPO procurement exceeded $6 billion.

KPO Corporate Affairs Department  

For more information please contact:

Sergei Pushkarev: <link>PushkS@kpo.kz 

Gulnara Sharibayeva: <link>ShariG@kpo.kz