On July 30, 2019, JSC NC KazMunayGas, the Ministry of Energy of the Republic of Kazakhstan and Total E&P Kazakhstan signed Memorandum of Understanding in the sphere of digitalization of the oil and gas industry.

“In accordance with the signed document, the parties intend to assist state bodies and other organizations in the implementation of the “Digital Kazakhstan” state program and further development of the digitalization of the oil and gas industry,” says the statement of KMG.

It is clarified that in the framework of cooperation,it is planned to provide consultations on the issues of digitization, implement digitalization initiatives on the example of Total, improve data management, assist in personnel training, promote educational initiatives, etc.

“Total is in top 10 largest oil and gas companies in the world. Therefore, its experience in the digitalization of the oil and gas industry and the use of modern technologies will allow Kazakhstan to adopt best practices in order to improve the efficiency of operating activities and increase the performance of oil and gas assets,”said Deputy Chairman of the Management Board of KMG for production Zhakyp Marabayev.

The agreement was signed during the visit of the Minister of Economy and Finance of France Bruno Le Maire to the Republic of Kazakhstan.

“France is in top 5 countries in terms of direct investment in the Kazakhstan’s economy. From 2005 to 2018, the amount of French investment in the economy of Kazakhstan exceeded $15 billion. Turnover at the end of 2018 increased by 32.5% and amounts to $4.5 billion,” reports the press service of the Prime Minister of the Republic of Kazakhstan.

As noted, “joint production in the field of transport engineering, manufacture of construction materials, medicines, food products successfully functions now”. Joint work is underway to implement projects in such spheres as energy, space, renewable energy, infrastructure development, Smart City.

More than 130 enterprises work in Kazakhstan with the participation of French capital, including Total, Orano, Danone, Vicat, Peugeot, Alstom, which implement high-tech projects.

Prime Minister of the Republic of Kazakhstan Askar Mamin noted the interest in the further development of investment cooperataion, implementation of joint projects in the sphere of transport infrastructure, digital technologies, human capital.

“We have a great potential in agriculture. The “success stories” include joint projects with French companies like Danone, Lactalis and Soufllet. Kazakhstan is a promising place for doing business in terms of production of environmentally friendly products and access to the massive markets of the EAEU and China,” he said.

At the same time, it was promised that “French investors will be provided with comprehensive assistance in opening joint ventures, import substitution and further export of agro-industrial products.”

In turn, the Minister of Economy and Finance of France noted the readiness of the French side to continue strategic cooperation and said that “Kazakhstan is a leading partner of France in Central Asia”.

Sovereign Wealth Fund Samruk-Kazyna JSC and the Bpifranceinvestment company also signed a Memorandum on joint investment today.