President Determines Oil and Gas As Foundation of Kazakhstan’s Economy
Oil and gas are strategic resources and a foundation of the national economy, President Kassym-Jomart Tokayev said at an Aug. 29 meeting dedicated to the 125th anniversary of Kazakhstan’s oil and gas industry, reported Akorda.
President Tokayev emphasized the significant role of Kazakhstan's oil and gas sector, which employs nearly 250,000 people. He acknowledged the development of the country's processing capabilities alongside raw material extraction, with KazMunayGas national company playing a crucial role in producing most of the nation's fuel and oil products.
Tokayev highlighted the contributions of global oil and gas giants such as Chevron, ExxonMobil, CNPC, Eni, Shell, Lukoil, Total, and Sinopec. He pointed to the development of Tengiz, Kashagan, and Karachaganak fields, along with the implementation of the Caspian Pipeline Consortium, as prime examples of successful cooperation between the state and international investors.
Kazakhstan's energy security has been enhanced, and the sector is undergoing radical changes, with a growing focus on logistics and environmental industries. Tokayev stressed the importance of using advanced technologies in geological exploration and field development to ensure sustainable production growth. He also prioritized diversifying export routes amid international turbulence.
The President underscored the significance of the oil refining sector, calling for the stable production of petroleum products that meet modern environmental standards. He highlighted the potential of the petrochemical industry, mentioning the recent launch of a polypropylene plant in Atyrau. Tokayev reiterated the need to produce high-value-added products and noted that the oil and gas sector is a key driver for medium-sized business development in the country.
“It is necessary for large enterprises in the sector to increase localization levels consistently and prioritize using products from Kazakh entrepreneurs for their needs. Strengthening social responsibility further and expanding the contribution to developing socially significant infrastructure is fundamental. Particular attention should be paid to training qualified personnel,” the President concluded.(Source:astanatimes)
