The implementation of production sharing agreements (PSAs) for large deposits has enabled Kazakhstan to become a reliable supplier of energy resources to the global market. These projects significantly contribute to the socio-economic development of the country, noted President Kassym-Jomart Tokayev during an expanded government meeting. He emphasized that substantial investments require a long-term planning horizon.
“Therefore, the government needs to intensify negotiations regarding the extension of PSA contracts under updated conditions that are beneficial for the country. In addition, it is necessary to involve a number of technologically complex oil fields in the economic turnover, as well as the significant reserves of shale oil that are available. To enhance the commercial attractiveness of such projects, the government should provide appropriate measures of state support,” - instructed Kassym-Jomart Tokayev.
He highlighted that in the current geopolitical and economic realities, attracting private investments into the economy, whether in industry or agriculture, is a priority task for the government.
“This strategy aligns with the long-term national interests of the country. Therefore, I would like to emphasize that manipulating populist slogans is unacceptable here. Only in this way will Kazakhstan receive an additional influx of investments into the economy, increase its resource potential, and create conditions for the establishment of new industrial productions. I mention this specifically so that society is aware of my position,” - stated the president.
He also added that the National Project for the modernization of energy and communal infrastructure adopted last year includes the development of industry through the production of new types of products. Kazakhstani enterprises can only meet 40% of the equipment needs. Therefore, the government should establish its production by providing off-take contracts to local factories, said the head of state.