Kazakhstan Names Volume Of Shell Investments In Country's Economy

(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.


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