OREANDA-NEWS. April 01, 2014. Share of Kazakhstan suppliers of goods and services in the second phase projects of Tengizchevroil (TCO) expansion will be increased to 44%.

This was announced by the Minister of Industry and New Technologies Asset Issekeshev during a meeting on the development of petroleum engineering within the second five-year plan of industrialization.

"I want to thank the TCO for such a large-scale cooperation and being the first among large companies. We agreed in the memorandum on how we would work in the display mode. In particular, we need to increase the share up to 44% which is a very serious figure. Four meetings of the expert group were held where TCO provided detailed information on the project. The database includes 600 domestic enterprises," A. Issekeshev said.

According to him, the oil and gas sector is one of the main sectors of the Kazakh economy. More than 80 oil fields are under development. 90% of oil reserves are concentrated in the west of Kazakhstan. One of the key directions of the second program of industrialization is the manufacture of machinery for oil and gas sector in Kazakhstan.

"There are companies from Italy, Austria, USA, etc. that previously dealt with supply. We hope that now they will become Kazakh producers. This will be beneficial for all. We agreed how we will work," he concluded.

More than 40 domestic and foreign companies - suppliers of goods, works and services for oil and gas companies, including TCO were invited to the meeting initiated by MINT and Kazakhstan Engineering Union.