ASTANA, Kazakhstan, September 4. The OPEC Fund for International Development is ready to support projects in Kazakhstan, said the Fund's President Abdulhamid Alkhalifa, Trend reports.
He made the remark during a meeting with Kazakh Energy Minister Almassadam Satkaliyev.
"OPEC Fund for International Development is ready to provide both technical support and grants to projects in Kazakhstan," he said.
Alkhalifa also spoke about projects being implemented in Central Asian countries.
In turn, Satkaliyev spoke about major renewable energy projects in Kazakhstan that are in line with national targets to achieve carbon neutrality by 2060. He also noted the importance of providing special conditions for investment protection, as well as stable fiscal and regulatory preferences for investors in the areas of production localization and geological exploration.
Following the meeting, the parties agreed to continue studying the possibilities for implementing joint investment projects in the field of green energy, as well as considering the prospects for developing clean coal technologies.
Meanwhile, the volume of crude oil production amounted to 44.9 million tons from January through July 2024, which is 0.9 percent less than in the first seven months of 2023 (45.3 million tons).
Furthermore, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year. Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.