URALSK, West Kazakhstan Oblast, September 23, 2022 — Karachaganak Petroleum Operating B.V. (KPO) took part in «WestKazInvest-2022» International Investment Forum, which was organized by the West Kazakhstan Oblast Akimat.
The Forum was attended by the central and local executive authorities of the Republic of Kazakhstan, representatives of business community of West Kazakhstan and Volga regions, investors, international financial organizations, embassies and others.
The Forum was aimed at presenting the WKO investment potential, niche projects, localizing new industries, establishing trade and economic ties and creating a favourable climate for doing successful business in the WKO in the format of joint ventures with foreign participation.
As part of the event KPO took part in an exhibition of WKO enterprises and the panel session «Investments in oil and gas sector» where achievements and plans for the development of local content in the Karachaganak project were presented. As KPO representatives informed the forum participants, increasing the involvement of Kazakhstani suppliers and manufacturers into the Karachaganak field development is a priority issue for the company.
KPO’s work in this direction has yielded significant results: in the first half of 2022, KPO has signed contracts with Kazakhstani companies totaling $454 million, or 98 per cent of the total value of all awarded contracts. In numerical terms, this is 145 contracts out of 170.
KPO has signed nine localization roadmaps with manufacturers of original equipment and three roadmaps for localization of non-OEM category goods.
It was noted that as of today, KPO Partners have invested more than $29 billion into the development of the Karachaganak project, while the total investments into development of local content have made up $9.06 billion.
According to preliminary estimations, KPO localization plans will facilitate additional investments in the real sector of the economy and will enable creation of hundreds of new jobs.
KPO Corporate Affairs Department
