President Tokayev Determines Oil and Gas As Foundation of Kazakhstan’s Economy
ASTANA – 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.
Photo credit: Akorda
As the President stated, nearly 250,000 people are currently employed in this sector. In addition to raw material extraction, Kazakhstan has also developed its processing capabilities. The country produces most fuel and oil products, and KazMunayGas national company has played a significant role in this achievement.
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, along with the implementation of the Caspian Pipeline Consortium, as striking examples of beneficial cooperation between the state and investors.
Kazakhstan’s energy security has been enhanced, and Tokayev noted the sector is undergoing radical changes, with growing importance placed on logistics and environmental industries. He emphasized the need for advanced technologies in geological exploration and field development to ensure sustainable production growth. He also prioritized diversifying export routes amid unprecedented international turbulence.
Tokayev 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. He reiterated the need to produce high-value-added products, with oil and gas being one of the drivers of 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.
At the end of the meeting, he presented state awards to citizens who have significantly contributed to the development of the oil and gas industry.
