IMBC Participated in NC KazMunayGas JSC Roundtable on Localization

In Astana, at the initiative of NC KazMunayGas JSC, a roundtable was held at the national company’s office with the participation of representatives of major oil and gas companies and Operators of the Tengiz, North Caspian and Karachaganak projects. The meeting focused on measures to stimulate production localization and further develop the “Contract in Exchange for Investment” mechanism.

The event was attended by Vice Minister of Energy of the Republic of Kazakhstan Yerlan Akbarov Yesenaliyevich, representatives of NC KazMunayGas JSC, PSA LLP, TCO, NCOC, KPO, Chevron, Eni, Shell and ExxonMobil.

During the meeting, the participants discussed the results of joint efforts to identify and remove barriers to implementing the “Contract in Exchange for Investment” mechanism, measures to stimulate localization, as well as potential opportunities for establishing new domestic production facilities focused on meeting the needs of Kazakhstan’s largest oil and gas projects.

Attention was paid to further strengthening cooperation between government authorities, national companies, Operators, international manufacturers and domestic enterprises to establish sustainable supply chains and increase local value creation.

IMBC General Director Dastan Abishev noted:

“Together with NC KazMunayGas JSC and Chevron, within the framework of the ‘Local Content in Goods Solution Prioritization’ Working Group, IMBC is conducting systematic work to identify existing barriers, determine potential opportunities to increase local value creation, and explore promising areas for the localization of products and technologies of OEM manufacturers in Kazakhstan. Currently, IMBC, together with the Operators, has identified a number of priority goods for localization, as well as potential OEM manufacturers and investors interested in establishing production facilities in Kazakhstan in the near future. This approach allows us to move from general discussions on localization to specific projects focused on the actual needs of the oil and gas industry.”

Following the meeting, the parties confirmed their readiness to proceed with the practical implementation of all planned initiatives, including the development and promotion of sustainable supply chains for domestically produced goods.