Norway and Kazakhstan as oil producing countries will overcome crisis ? Monica Stubholt

ASTANA. February 26. KAZINFORM /Aigul Tulekbayeva/ Vice Minister of Petroleum and Energy of Norway Monica Stubholt considers Kazakhstan and Norway will overcome the negative impact of the world financial crisis, Kazinform reports.

She expressed such opinion at a briefing in Akorda following a meeting with Secretary of State of Kazakhstan Kanat Saudabayev. President of the Norway National Company ?StatoilHydro? Helge Lund attended the meeting. ?Kazakhstan and Norway can overcome the crisis since they are oil producing countries. Along with this, the countries have launched stabilization funds before the crisis which accumulated the income from oil sector?, M. Stubholt said. As it is known, the Kazakh National Fund was established by Norway experience for the future generations. M. Stubholt also noted the fact that ?Kazakhstan has done huge work on combating the crisis?. ?We know that oil and gas sector is the most corrupted sphere. Kazakhstan as well as Norway has joined the Extractive Industries Transparency Initiative (EITI) and in this connection I would like to note that Kazakhstan was awarded with a prize for its role in attraction of civil institutes for ensuring realization of this initiative in Doha (Qatar) last week?, the Vice Mniister said. The meeting participants focused also on cooperation of the national oil and gas companies of Kazakhstan and Norway ? ?KazMunaiGaz? and ?StatoilHydro?. ?We welcome your agreements which provide for cooperation not only on the Caspian shelf but also in other countries of the world?, K. Saudabayev said. It should be noted that in March Oslo will host a joint conference on ?Strengthening global partnership for the sake of the world without nuclear weapons? at which Kazakhstan will present its experience in nuclear disarmament and its contribution to provision of peace and security. Opening of Norway Embassy in Astana scheduled for this year will promote development of the two countries? relations.