LUKoil President gets membership in Kazakhstani council

Dec 04, 2003 01:00 AM

LUKoil President Vagit Alekperov was given membership in the Kazakhstani council on foreign investments, after Kazakhstani President Nursultan Nazarbayev, who is the chairman of the council, issued a corresponding decree.
The council, that convenes every six months, seeks to encourage foreign investments in Kazakhstan and create favourable investment climate in the country.

The council includes representatives of major foreign investors, including ChevronTexaco, BG Group, Total, the European Bank for Reconstruction and Development (EBRD) and a number of banks.
LUKoil is the only Russian company that has its representative in the council.

LUKoil's participation in the council is expected to intensify activities of the Russian oil giant in Kazakhstan. Over the past eight years, LUKoil's contribution to the Kazakhstani economy totalled $ 1.5 bn.
Alekperov specified that at present LUKoil was implementing seven projects in Kazakhstan.

Source: RosBusinessConsulting
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