Results of meetings with the heads of largest energy companies during WEF

Minister of Energy Almasadam Satkaliev participated in a special session of the World Economic Forum (WEF) in Riyadh on April 28-29, Kazinform News Agency correspondent reports, citing Ministry of Energy of the Republic of Kazakhstan.

More than a thousand world leaders from the public and private sectors, international organizations, non-governmental organizations, and representatives of academia and civil society gathered at the event to promote dialogue among countries to revitalize international cooperation and discuss challenges impeding growth and development.

At the meeting with the OPEC Secretary General, Haitham Al Ghais, the implementation of agreements within the framework of the OPEC+ agreements was discussed, the parties also reached an understanding on the need to take concerted actions in order to maintain stability in the oil market.

At the forum, the Minister of Energy also met with Chevron's President of International Exploration and Production, Clay Neff, where they discussed cooperation issues, including the development of the Tengiz field, the development of Karachaganak and the construction of a gas processing plant.

The parties expressed satisfaction with the pace of development of the Karachaganak field, aimed at maintaining oil and condensate production at the level of 11 million tons per year.

Satkaliev also met with the chairman of the Acwa Power company, Mohammad Abunayyan, who expressed interest in creating a renewable energy project in the Caspian region of Kazakhstan. The Minister of Energy emphasized the prospects of this project, taking into account plans to connect the energy system of western Kazakhstan with the unified energy system.

Acwa Power is also interested in desalination projects and has pledged to support flood relief efforts in Kazakhstan.