LUKOIL Invests Over $6 Billion in Kazakhstan Oil Production Sector

During a meeting on January 20 with Kazakhstan President Nursultan Nazarbayev, LUKOIL President Vagit Alekperov disclosed that LUKOIL has spent over $6 billion in the Central Asia state's oil production sector, Nazarbayev's press office reported in a news release.

According to the press office, this year LUKOIL will launch a gas refining complex in Aktyubinskaya Region. A number of other industrial projects are also being considered.

"Kazakhstan is one of a few countries in the world which has provided reliable protection for foreign investment. This is the personal achievement of Nursultan Nazarbayev. He is the guarantor today of this investments which have been made into Kazakhstan these past 20 years. Just look at how the republic has changed in these 20 years and how cities have been transformed. Of course, this is due to the president who has stimulated investment and his policies which have increased the country's tax base".

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