ASTANA (TCA) — Kazakhstan’s Ministry of Energy, national oil and gas company KazMunaiGas, gas transportation company KazTransGas and Shell Kazakhstan have signed a Memorandum of Cooperation (MoC) which aims at joint assessment and possible implementation of a number of strategic initiatives in the country’s energy sector, the official website of the Prime Minister of Kazakhstan said on September 6.
The MoC covers assessment of opportunities in gas based and renewable industries in Kazakhstan as well as improving oil recovery at Kazakhstan’s fields through sharing experience and new technologies.
“Cooperation under the MoC between Shell, KMG and KTG demonstrates strong partnership between the state and private businesses,” said Energy Minister Kanat Bozumbayev. “We believe that the knowledge and expertise of Kazakhstani specialists combined with Shell’s international experience and technical excellence will enable the partnership to help create a diversified energy market in Kazakhstan, which in turn will positively impact the competitiveness of the national economy as a whole.”
“As part of the Memorandum we are looking forward to cooperating together and exploring opportunities to maximise the potential of existing oilfields, carry on joint activities with Shell as part of the Kazakhstan Oil & Gas Technology Roadmap, as well as to exchange the technical know-how in the energy sector,” said KMG CEO Sauat Mynbayev.
“We value our co-operation and mutual understanding developed with the Republic of Kazakhstan over the many years of Shell’s presence in the country,” said Andrew Brown, Upstream International Director, Royal Dutch Shell. “Shell intends to deepen its strategic alliance with KMG and the Republic of Kazakhstan and welcomes an opportunity to further contribute to the development of energy sector through the MoC with MoE, KMG and KTG. We are looking to provide our support and technical excellence in assessing opportunities in gas processing, oil recovery and renewables.”
