Kazakhstan to create new oil service company
Kazakhstan, Astana, 31 Jan. / Trend D. Mukhtarov /
Kazakhstan plans to create a new oilfield service company, a source at the Ministry of Oil and Gas of Kazakhstan told Trend.
"The plan is to create a new oilfield service company which deals with requests for oilfield services in the domestic market of Kazakhstan," the source said.
He recalled that talks on creating a company were held long ago and "it seems that the company will open this year or early next year".
"At a recent board meeting of the Ministry of Oil and Gas, the Prime Minister of Kazakhstan instructed the oil ministry as well as the Ministry of Industry to accelerate the establishment of such a company," the source said.
The spokesperson explained that the need for a Kazakh oilfield services company is due to implementation of large investment projects in the oil and gas industry of the country.
"This will cause a considerable demand for oil and gas equipment and machinery despite the fact of there being a new field of transport engineering with electric locomotives and wagons already operating in the country. The question of owning oil and gas equipment manufacturing outlets remains important with consideration to government policies aimed at creating our own production and increasing Kazakhstan's share in the oil and gas projects," the source said.
As Prime Minister Serik Akhmetov said earlier, the share of Kazakhstan in the largest oil and gas projects leaves much to be desired, as in Tengizchevroil it is four per cent, in Karachagank - 7.5 per cent and in the North-Caspian project (Kashagan) - three per cent.