Kazakhstan plans to localize oil and gas industry production with €100 million investment

Kazakhstan plans to attract up to €100 million in investment to localize the production of polymer products and equipment for the oil and gas industry.

According to Report's Kazakhstan bureau, a memorandum of cooperation was signed between Kazakhstan's Ministry of Energy and SNF SA on the sidelines of the 2026 Kazakhstan Forum on Enhanced Oil Recovery (EOR) Methods in Astana.

Under the agreement, SNF SA is considering investing up to €100 million in developing a production base in Kazakhstan. The project envisages manufacturing polymer products and oil and gas equipment, introducing advanced technologies, and transferring relevant expertise to the Kazakh side.

The project will help meet the needs of key oil and gas companies, increase the share of local content and create additional opportunities for implementing regional projects.

Kazakhstan's Deputy Minister of Energy Yerlan Akbarov emphasized the importance of developing technological cooperation and attracting international companies to establish production facilities in the country.

The forum is being held in Astana from August 26 to 28. It focuses on advanced enhanced oil recovery methods, localization of oilfield equipment and chemical reagents, as well as the deployment of cutting-edge technologies at Kazakhstan's mature oil fields.