BAKU, Azerbaijan, October 16. Kazakhstan's Oil Services Company and KSP Steel have signed an offtake contract for the production of casing and tubing for oil and gas wells in 2027-2029, KazMunayGas (KMG) reported.
The contract was signed in Uralsk on the sidelines of a forum on the development of oil and gas engineering.
Oil Services Company is an oilfield services subsidiary of KazMunayGas. The company specializes in drilling, workover, and well servicing. KSP Steel is a Kazakh manufacturer specializing in the full-cycle production of seamless steel pipes.
"Increasing local content and localizing production in Kazakhstan are among KazMunayGas' strategic priorities. Offtake contracts play an important role in achieving these goals by supporting domestic manufacturers and meeting the oil and gas industry's demand for locally produced goods", KMG said.
Since 2019, KazMunayGas has signed a total of 545 offtake contracts worth 105 billion tenge (about $231.2 million).
KMG said it is pursuing a systematic approach to increasing local content and developing import substitution. Alongside supporting existing production facilities, the national company is helping develop new areas of oil and gas engineering.
As previously reported, on September 30, 2026, during the KIOGE-2026 international conference and exhibition in Almaty, West Kazakhstan Machine-Building Company and US oilfield services company Baker Hughes signed an agreement to provide services for major oil and gas projects.
The US dollar equivalent is calculated at the National Bank of Kazakhstan's exchange rate of 454.14 tenge per $1 as of October 16, 2026.
