Olzhas Bektenov, the Kazakh Prime Minister held a number of bilateral discussions with executives of prominent global energy companies taking part in the 38th Plenary Session of the Foreign Investors’ Council chaired by Kassym-Jomart Tokayev, Kazakh President, the press service of the Government reports with reference to the Qazinform News Agency.
Among those in attendance were Global Natural Resources Upstream Director of Eni SpA, Luca Vignati, and Chairman and Chief Executive Officer of Baker Hughes, Lorenzo Simonelli.
Today, according to Bektenov, Kazakhstan’s new Constitution has come into effect, and the nation is following an investment-oriented strategy for long-term and broad-ranging economic growth under President Kassym-Jomart Tokayev. It is well to be noted that in 2025, foreign direct investment reached over $20 billion and the country attracted more than $25.5 billion in FDI in 2026.
The parties discussed the status of joint investment projects being implemented and the opportunities for further expansion of collaboration in key sectors of the economy besides oil and gas equipment manufacturing growth in Kazakhstan.
Apparently, the meeting with Vignati was focused on development of energy infrastructure in Kazakhstan, which included the construction of a 247 MW hybrid power plant based out of Zhanaozen. Upon completion, the project is expected to boost usage of modern low-carbon technologies and improve the energy system of the country.
Notably, the discussion with Simonelli focused on increasing local manufacturing of advanced technologies in oil and gas industry. Baker Hughes has localized the production of 174 kinds of components in Kazakhstan and is partnering with local suppliers on almost 100 more. Kazakh subsidiaries as well as specialists now carry out 95% of the service operations of the company in the country, it said.
Baker Hughes also reiterated its dedication to increasing local production, enhancing collaboration with local manufacturers, deploying digital solutions so as to track industrial equipment, and engaging in initiatives focused on gas processing, oil and gas equipment manufacturing growth in Kazakhstan, as well as decarbonization.
The parties concluded their meetings emphasizing their dedication to the expansion of investment cooperation, implementation of joint projects, and deepening their technological collaboration in the oil and gas industry.
Earlier it was reported that Olzhas Bektenov, the Prime Minister speaking in Parliament, noted that the new Constitution of Kazakhstan offers a strong institution-wide basis for sustained reforms and upgrading.