Lukoil invests $9 billion in Kazakhstan's economy
Baku, Azerbaijan, Feb. 19
By Rashid Shirinov – Trend:
President of Kazakhstan Nursultan Nazarbayev discussed with Vagit Alekperov, President of the Russian Lukoil oil company, further development of investment cooperation in the oil and gas industry, Trend reports citing the official website of the President of Kazakhstan.
Nazarbayev noted the positive dynamics and effectiveness of partnership between the Kazakh national oil company KazMunayGas and Lukoil.
"We have been working with Lukoil for a long time. Your company is one of the largest in Russia. You are also one of the significant Russian investors in Kazakhstan," said the head of state.
Noting that Lukoil has invested about $9 billion in the economy of Kazakhstan, Nazarbayev expressed interest in further strengthening of investment cooperation with Lukoil.
During the meeting, the Kazakh president was presented with detailed information about the plans for joint implementation of the Zhenis project for exploration and production of hydrocarbons in Kazakhstan’s sector of the Caspian Sea.
In addition, Vagit Alekperov informed the head of state about the construction of a plant for the production of lubricants in Kazakhstan.
"The planned capacity of the enterprise is 100,000 tons per year. The modern plant will produce almost the entire range of lubricants. This includes 700 different types of products," said the president of Lukoil.
The meeting also discussed joint work to find new hydrocarbon fields using advanced technologies, as well as the participation of Lukoil in the geological exploration program for 2021-2025 developed by the Energy Ministry of Kazakhstan.
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