BAKU, Azerbaijan, September 18. The American Chamber of Commerce in Kazakhstan (AmCham Kazakhstan) and the International Center for Development of Oil and Gas Machine Building (IMBC) have signed a memorandum of understanding (MoU) aimed at promoting the localization of international oil and gas equipment manufacturers in Kazakhstan.
This was reported in a statement released by AmCham.
According to the information, the agreement focuses on increasing in-country value (ICV) in Kazakhstan's oil and gas machine-building sector.
Under the MoU, the organizations will cooperate on developing local production capabilities, facilitating the exchange of knowledge and expertise, and maintaining dialogue with businesses on potential localization projects.
"The partnership reflects a shared commitment to supporting technology transfer, industrial development, and stronger cooperation between international companies and Kazakhstan’s manufacturing sector", AmCham Kazakhstan said.
IMBC is a Kazakhstan-based association established in 2021 that brings together major oil, gas and petrochemical operators and the domestic machine-building sector. Its members include North Caspian Operating Company N.V., Karachaganak Petroleum Operating B.V., Tengizchevroil LLP, Kalamkas-Khazar Operating LLP, Silleno LLP and KMG PetroChem LLP.
The association focuses on developing domestic production of equipment and goods for the oil and gas sector through market analysis, supplier qualification, capacity development and investment facilitation.
AmCham Kazakhstan, established in 1999, represents international and local companies operating in Kazakhstan and works on issues related to the country's business and investment environment.
