Press release on the signing of Memorandum of Cooperation between the Ministry of Energy of the Republic of Kazakhstan, JSC “NC KazMunayGas”, JSC “KazTransGas” and “Shell Kazakhstan B.V.” | RSE CEC "Informational and analytical center of environment protection"

Press release on the signing of Memorandum of Cooperation between the Ministry of Energy of the Republic of Kazakhstan, JSC “NC KazMunayGas”, JSC “KazTransGas” and “Shell Kazakhstan B.V.”

Republic of Kazakhstan, 6 September 2016

Today the RoK’s Ministry of Energy, JSC KazMunaiGas, JSC KazTransGas and Shell Kazakhstan signed the Memorandum of Cooperation (MOC) which aims at joint assessment and possible implementation of a number of strategic initiatives in line with the RoK’s strategic objectives. The MOC aims at strengthening the long-term relationships between the Parties and defines the key aspects of their co-operation.

The signing ceremony was attended by Minister Bozumbayev, KMG’s CEO Mynbayev, KTG’s General Director Suleimanov and Upstream International Director for Royal Dutch Shell, Mr Andrew Brown.

The MOC covers assessment of opportunities in gas based and renewable industries in Kazakhstan as well as improving oil recovery at RoK’s fields through sharing experience and new technologies.

Minister of Energy, Bozumbayev: “Cooperation under the MOC between Shell, KMG &KTG demonstrates strong partnership between the state and private businesses. We believe that the knowledge and expertise of Kazakhstani specialists combined with Shell’s international experience and technical excellence will enable the partnership to help create a diversified energy market in Kazakhstan, which in turn will positively impact the competitiveness of the national economy as a whole”.

KMG CEO Sauat Mynbayev: «As part of the Memorandum we are looking forward to cooperating together and exploring opportunities to maximise the potential of existing oilfields, carry on joint activities with Shell as part of the RoK Oil &Gas Technology Roadmap, as well as to exchange the technical know-how in the energy sector”.

Upstream International Director, Royal Dutch Shell, Andrew Brown: “We value our co-operation and mutual understanding developed with the Republic of Kazakhstan over the many years of Shell’s presence in country.  Shell intends to deepen its strategic alliance with KMG and the Republic of Kazakhstan and welcomes an opportunity to further contribute to the development of energy sector through the MOC with  MoE, KMG and KTG. We are looking to provide our support and technical excellence in assessing opportunities in gas processing, oil recovery and renewables.

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Notes to editors:

Head quartered in the Hague, Netherlands, Shell is an international group of companies comprising of energy and petrochemical companies. Currently Shell is one of the largest foreign investors in the RoK’s economy. In Kazakhstan Shell has interest in four projects: The North Caspian Production Sharing Agreement (Shell share 16.81%), “Pearls” Production Sharing Agreement in the Kazakhstan Sector of the Caspian sea (Shell share 55%), Karachaganak Final Production Sharing Agreement (through BG Group’s share – 29.25%), and Caspian Pipeline Consortium (Shell share 7.4%), which links Kazakhstan’s oil reserves to world markets.

 Source:energo.gov.kz

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