Kazakhstan is intensifying efforts to attract global investment as the country enters a new constitutional phase while continuing to prioritize economic growth through strategic partnerships in the energy sector. Recent discussions between Kazakhistan’s Prime Minister Olzhas Bektenev and senior executives from Eni and Baker Hughes underscored Kazakhstan’s focus on advancing technology adoption, expanding local industrial capacity, and supporting long-term development across its oil and gas industry. The meetings took place on the sidelines of the 38th plenary session of the Foreign Investors’ Council under the President of Kazakhstan.
At the start of the meetings, Bektenev highlighted the significance of the day, noting that Kazakhstan’s New Constitution had officially come into force. He described the development as a major milestone in the nation’s progress. He also stressed that under the leadership of Kazakhistan’s President Kassym-Jomart Tokayev, the country remains committed to an investment-driven economic model designed to achieve sustainable and diversified growth. The discussions reflected Kazakhstan’s continued efforts to strengthen investor confidence and advance major industrial initiatives, reinforcing the country’s commitment to attracting global investment.
Eni Discussions Focus on Energy Infrastructure Expansion
During a meeting with Luca Vignati, Director for Exploration and Production of Global Natural Resources at Eni S.p.A., attention centered on the expansion of Kazakhstan’s energy infrastructure. A key topic was the development of the 247 MW hybrid power plant in Zhanaozen, regarded as one of the nation’s flagship energy projects.
The project is expected to enhance the reliability and resilience of Kazakhstan’s electricity network while introducing advanced low-carbon technologies. The initiative aligns with broader government objectives aimed at supporting the country’s energy transition strategy and creating additional opportunities for global investment within the energy sector.
Baker Hughes Advances Localization and Technology Development
Talks with Lorenzo Simonelli, Chairman and Chief Executive Officer of Baker Hughes, concentrated on localization efforts and technology transfer. Baker Hughes has already established local production for 174 types of spare parts in Kazakhstan, while close to 100 additional components are being developed in collaboration with domestic suppliers.
The company’s local presence was further highlighted by the fact that 95% of Baker Hughes’ service operations in Kazakhstan are currently handled by Kazakhstani divisions and specialists. According to the discussions, Baker Hughes intends to expand its manufacturing activities in the country, deepen cooperation with local companies, deploy digital solutions for industrial equipment monitoring, participate in new gas processing projects, support the establishment of modern production facilities, and contribute to decarbonization programs.
Long-Term Cooperation Supports Industrial Growth
The meetings illustrated a broader evolution in Kazakhstan’s economic strategy. Alongside attracting foreign capital, the government is placing increasing emphasis on investments that support technology transfer, generate skilled employment, expand local production capabilities, and strengthen domestic supply chains. For international energy companies, Kazakhstan continues to provide access to one of the region’s largest resource bases while also presenting opportunities in clean energy, manufacturing, and digital industrial solutions.
The discussions concluded with all parties reaffirming their commitment to expanding investment cooperation and pursuing new joint projects. As Kazakhstan advances constitutional reforms alongside its economic agenda, partnerships with Eni and Baker Hughes are expected to contribute significantly to the modernization of the country’s energy sector, further supporting global investment and reinforcing Kazakhstan’s role as a regional industrial hub.
