Kazakhstan and Malaysia strengthen cooperation in the oilfield industry
The agreement on the creation of a joint venture was signed between the leadership of the Malaysian company Elektro Serve (M) SDN BHD and Kazakhstan LLP "Alshin-West". As part of its activities, the parties intend to implement an investment project in the provision of service support in the oil and gas industry.
The volume of planned investments in the project is more than $ 3 million with the creation of 20 jobs at the first stage.
According to the regional director of JSC "NC "KAZAKH INVEST" in the Atyrau region Yerzhan Kolbayev, negotiations with the Government of Malaysia on the implementation of this project were conducted in 2019.
"This cooperation was initiated as part of KAZAKH INVEST's visit in 2019 in Malaysia. To cooperate (technology transfer, equipment, and its service) and the implementation of previously reached agreements, the Government of Malaysia, Elektro Serve (M) SDN BHD was chosen as an operator. This company has joint ventures with several well-known international manufacturers of original equipment, such as Jeumont Electric, Indar, Schneider Electric, to ensure the best technical support, as well as spare parts, "said Yerzhan Kolbayev.
As part of the implementation of the investment project, Malaysian investors have committed themselves to provide the latest equipment, technologies, standards, procedures, and qualified engineers to train local specialists. In turn, the Kazakhstan partner intends to provide the necessary infrastructure, production base, equipment, and local specialists.
It is worth noting that, as part of its activities, the joint venture plans to provide services for the maintenance and repair of high-voltage engines, generators, compressors, pumps, and turbomachine to large oil and gas companies.