Kazakh PM Alikhan Smailov meets with Shell Executive Vice President Peter Costello

The meeting discussed the issues of further cooperation between Kazakhstan and Shell company in implementing joint projects in the energy sector, including investment attraction, In particular, the sides discussed the outcomes of the company's work for 2021 and the current plans for 2022.

«Our cooperation will further facilitate successful implementation of the set tasks, mainly aimed at overcoming global challenges as well as further development of mutually beneficial relations,» said Prime Minister Alikhan Smailov.

For his part, Peter Costello noted that Kazakhstan is a strategic partner of Shell and that the bilateral mutually beneficial work will be further continued.

In order to increase the investment attractiveness of the oil and gas sector the Kazakh PM said that the Government with the Kazakh Association of the Council of Foreign Investors carry out the work to introduce the Improved model contract. The contract caoupled with a package of fiscal and regulatory preferences will cover new maritime projects, complex land-based projects as well as gas projects.

«We are working on introducing the relevant changes to the current legislation. We are sure that the development of oil and gas projects in Kazakhstan will become more attractive to our strategic partners,» said Smaiolov.