Kazakhstan to help finance local oil and gas equipment producers

Oil&Gas Materials 27 March 2012 14:41 (UTC +04:00)

Kazakhstan, Astana, March 27 / Trend D. Mukhtarov /

The Kazakh government intends to support domestic producers of oil and gas equipment, by reimbursing 50 per cent of their costs towards obtaining the international certification, board chairman of the national agency for the development of local content NADLoC Dauren Abdyhamitov said at a forum in Astana today.

He told the media that the Kazakh government had developed and submitted a draft resolution which envisages a preference for domestic producers.

"The procedure for obtaining international certification is not cheap," he said. "While obtaining the necessary documents from our producers, the agency will consider them and then recover their costs. This was at the producers' request. The government decided to support them, by making the appropriate decision."

He added that the national agency will hire independent companies to consider the validity of costs incurred by domestic producers.

"The number of manufacturer applications for reimbursement will be unlimited," he stressed. "The budget for the current year has about 172 million tenge ($1 - 147.7 tenge) set aside for this purpose."