ALMATY – Kazakh Prime Minister Olzhas Bektenov held a series of bilateral meetings with executives of leading international energy companies and financial institutions on the sidelines of the 38th plenary session of the Foreign Investors’ Council, reaffirming Kazakhstan’s commitment to expanding investment cooperation and advancing major infrastructure and energy projects.
From L to R: Chevron Upstream President Clay Neff and Kazakh Prime Minister Olzhas Bektenov. Photo credit: Prime Minister’s press service. During the meetings, Bektenov noted that Kazakhstan’s new Constitution had entered into force and highlighted the government’s focus on launching a new investment cycle to ensure sustainable and diversified economic growth.
According to him, foreign direct investment exceeded $20 billion in 2025, while the government expects to attract more than $25.5 billion this year. Energy projects and industrial localization Bektenov met with Luca Vignati, Eni’s director of global natural resources exploration and production, to discuss the development of Kazakhstan’s energy infrastructure, including the construction of a 247-megawatt hybrid power plant in Zhanaozen, which is expected to support the deployment of low-carbon technologies and strengthen the country’s energy system.
Talks with Baker Hughes Chairman and CEO Lorenzo Simonelli focused on expanding localization and introducing advanced technologies in Kazakhstan’s oil and gas industry. The company has localized the production of 174 types of spare parts, while nearly 100 additional products are being jointly developed with Kazakh suppliers.
Around 95% of Baker Hughes’ service operations in Kazakhstan are now carried out by local specialists. Baker Hughes also expressed interest in expanding cooperation in gas processing, digital industrial monitoring, manufacturing and decarbonization projects. Expanding cooperation with the World Bank Bektenov also met with World Bank Vice President for Europe and Central Asia Antonella Bassani.
The discussions focused on implementing the 2026–2031 Country Partnership Framework, aimed at accelerating Kazakhstan’s transition toward a more diversified, competitive and private sector-led economy. Kazakh Prime Minister Olzhas Bektenov held a series of bilateral meetings with executives of leading international energy companies and financial institutions.
Photo credit: Prime Minister’s press service. According to the government, the World Bank has supported more than 50 projects worth over $8 billion in Kazakhstan in sectors including transport, education, digitalization, environmental protection and green technologies.
Bassani also highlighted Kazakhstan’s growing role in developing the Trans-Caspian International Transport Route and recognized the country’s progress in digital transformation and artificial intelligence. Strengthening partnerships with Chevron and Shell