Total amount of investments into development of Karachaganak exceeds $17.6 billion

To date, the international consortium Karachaganak Petroleum Operating B.V. (KPO) has invested over $17.6 billion into the development of the Karachaganak field; at the same time, the amount of direct payments into the Kazakh budget made up over $10 billion, the company’s general director Damiano Ratti stated at the forum “Maintenance Services and Engineering in the Oil and Gas industry”, held in Uralsk.

“Today, KPO carries out economic and technical assessment of the possible extension of the project. Its implementation will be accompanied by new large-scale investments, the introduction of new innovative technologies, the creation of additional jobs and opportunities for Kazakh companies,"- Damiano Ratti said. He added that the consortium attached great importance to the development of local producers, theimprovement of their material and technical basis and the training of personnel, as well as compliance with international standards, used in KPO and in the oil and gas industry as a whole.