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Eni to revive investment in Kazakhstan

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20.09.2018 17:45

The Head of Samruk-Kazyna Sovereign Wealth Fund Akhmetzhan Yessimov received representatives of the Italian oil and gas company Eni. The parties discussed the perspectives for cooperation in three directions: construction of a gas processing plant, subsurface management in the Isatay and Abay oil fields in the Caspian Sea, and the development of renewable energy sources.

Eni’s Chief Upstream Officer Antonio Vella believes that the most propitious moment to develop the Karachaganak project is now.

«At this very moment the world is facing the rise in oil prices along with the decrease in the volume of oil production. We must take advantage of that. Our company is planning to intensify investment in Kazakhstani projects»- said A. Vella.

During the meeting, the representatives of Eni have pointed out that the Italian company is also interested in the collaboration with Kazakhstan in the sphere of green energy. Thus, currently the parties are conducting negotiations on the construction of a wind power station in Aktobe region and investment in the solar power station Burnoye in Zhambyl region.

In addition, the parties highlighted the progress in the settlement of the dispute regarding the Karachaganak project that has been lasting since 2012. Antonio Vella expressed his appreciation to Akhmetzhan Yessimov for his concern and the progressions made regarding the issue. In November 2018, it is planned to sign the Agreement on the settlement of the dispute regarding the project.

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