Kazakhstan Names Volume Of Shell Investments In Country's Economy
Date
10/4/2023 9:14:38 PM
(MENAFN- Trend News Agency) ASTANA, Kazakhstan, October 5. Shell is the
largest British oil and gas company and the 11th largest public
company in the world. It has invested more than $18 billion in the
economy of Kazakhstan, strengthening its position as one of the
largest foreign investors in the country, said President of
Kazakhstan Kassym-Jomart Tokayev at an event dedicated to the 30th
anniversary of the Shell concern in Kazakhstan, Trend reports.
As he noted, Shell, together with other partners, is actively
involved in the implementation of large-scale oil and gas projects
in Kazakhstan. The company is the operator of Karachaganak, one of
the largest oil and gas condensate fields in the world. Timely
implementation of the stages of the Karachaganak Expansion Project
helps maintain liquid hydrocarbon production at the level of 10–11
million tons.
"The coordinated work of the Shell concern and other
shareholders made it possible to launch the "project of the
century," Kashagan said. Today, the North Caspian project provides
almost 20 percent of oil production in the country, playing an
important role in the global energy market. In addition to the
production of hydrocarbons, the creation of infrastructure for
their transportation to world markets is of great importance. The
first such successful project was the Caspian Pipeline Consortium.
Leading oil companies such as Chevron, ENI, Shell, Lukoil, and a
number of others took part in its implementation," the President
noted.
Kassym-Jomart Tokayev noted that the presence of transnational
oil and gas corporations in Kazakhstan shows the investment
attractiveness of our country, in particular the stability of
legislation in the field of protecting the rights and interests of
investors.
MENAFN04102023000187011040ID1107191447
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.