The Ministry of energy of Kazakhstan, JSC NC “KazMunayGas”, JSC “KazTransGas” and concern “Shell Kazakhstan” signed a Memorandum on cooperation in the field of market research and oil and gas chemistry.

PRESS RELEASE

Today, the Ministry of Energy of the Republic of Kazakhstan, JSC “KazMunayGas”, JSC “KazTransGas” and “Shell Kazakhstan” signed a Memorandum of cooperation, the purpose of which is to jointly explore the potential for the implementation of strategic initiatives facing the energy sector of the Republic of Kazakhstan. The Memorandum is aimed at strengthening the long-term mutually beneficial partnership of the parties and defines the key aspects of further cooperation.

The ceremony of signing the Memorandum was attended by Minister of Energy of Kazakhstan Kanat Bozumbayev, President of JSC NC “KazMunayGas” Sauat Mynbaev, General Director of JSC “KazTransGas” Rustam Suleymanov and Executive Director for exploration and production of oil and gas concern “Shell” Andrew Brown.

Within the framework of the Memorandum, it is planned to cooperate in the field of research of gas processing and petrochemical markets, study of methods of increasing oil recovery of Kazakhstan fields, exchange of experience and new technologies, as well as study of the potential development of projects in the field of renewable energy sources.

According to the Minister of energy of Kazakhstan Mr. Bozumbayev: “The signing of the Memorandum with the company “Shell” and the companies “KazMunayGas” and “KazTransGas” is a good example of partnership between the public and the commercial sector. We are confident that the Kazakh specialists’ knowledge of the oil and gas market and the international experience of Shell will allow us to form a diversified energy market in the country, which in turn will have a positive impact on the competitiveness of the national economy as a whole”.

President of JSC NC “KazMunayGas” Sauat Mynbayev said: “Within the framework of the signed Memorandum, we plan to establish cooperation in the field of studying the potential development of existing oil and gas facilities, to continue working together with Shell within the framework of the Roadmap for the development of the extractive industry of Kazakhstan, as well as the exchange of experience in the field of energy technologies and in general the development of sustainable energy”.

Andrew Brown, director of oil and gas exploration and production at Shell, said: “We appreciate the mutual understanding and cooperation that has developed over the years of Shell’s presence in the Republic of Kazakhstan. Our company intends to deepen strategic partnership with KMG and the Republic of Kazakhstan. We are glad that thanks to the Memorandum signed with the Ministry of energy of Kazakhstan, KMG and KTG, we have the opportunity to make an additional contribution to the development of the oil and gas sector of the country. We are ready to provide support and share our technical best practices to explore gas processing opportunities, improve oil recovery and implement renewable energy projects.”

For reference: Shell is an international group of energy and petrochemical companies headquartered in Hague, the Netherlands. Currently, Shell is one of the largest foreign investors in the economy of Kazakhstan. Shell takes part in four projects. This is: the Agreement on production section across Northern Caspian sea (the share of 16.81%), a PSA for the development of the license area “Zhemchuzhina” in the Kazakh sector of the Caspian sea (the share of 55%), Final agreement on section of production of the Karachaganak field (share of participation through the “BG Group” – 29.25%), and the Caspian Pipeline Consortium, which links Kazakhstan’s oil to world markets (a share of 7.4%).