№ 5 (49), 2011 - KazEnergy

in general served to the development of localindustry and production," - he said. Also,Mr. Sarsenov stressed that there is "thequeue" to invest in such projects as Kashagan."According to Dzhambulat Sarsenov,investment horizons should be extended tothe industrial projects, "As the Program offorced industrial-innovative develop-mentinvolves the creation of a large number ofprojects, new production capacity that willensure the efficient operation of oil and gasindustry and energy in general."OnKazakhstan'sfield workmajor Japanese,American,European Asiancompaniesoperate using thelatest technology.In the epicenter of global energydialogueThe first day of the Forum, October 4 notonly lighted the "Kazakh energy miracle"and promising areas of the industry, butalso identified the new vectors of cooperation.The participants got the opportunityto discuss the profile problems of the region,in particular the sensitive issue of collaborationin the development of the Caspian shelf.Also there were presentations on forecastingand long-term partnership alliances in Eurasia.Along with others, the speeches raisedsuch specific issues of the industry, as theformation of prices for oil, gas and other energysources, peculiarities of contracts andinvestments of the largest oil fields (for example,Karachaganak, Kashagan and Tengiz),and the prospects for innovations. Asfor the innovation, this is the important arearepeatedly voiced as a priority in the institutionssubordinate to the National WealthFund, led by Timur Kulibayev. As you know,the largest Kazakh mining companies are apart of the National Wealth Fund, and forthem the strategies identified at the Forumplay an important role. "Years of hard work,today let us boldly and proudly speak ofprogress in the petroleum and energy industriesof our country. Kazakhstan has securedits status as a leading player in the globalenergy market and has engaged in the dialogueon an equal footing with the globalindustry leaders. National companies havesuccessfully implemented a number of majorpipeline and energy transit projects in thepast few years. Calibrated, well thought outdevelopment strategy allowed raising theindustry's quantitative indicators, providedthe necessary prerequisites for its highquality innovative breakthrough. By itself,the oil and gas sector is the engine of innovation,since our entire complex fields arethe objects of innovation, so they take theadvantage of the latest technology. On ourfield work major Japanese, American, Euwillbe tough to stop illegal actions of thosewho try to violate the rules of the Ka-zakhstanlegislation and ignore the national interests ofour country." The situation with the Kashaganproject was valued by the Government asa special case, the legitimate interests ofpotential and actual investors in Kazakhstanwere not impacted, and as practice showed,were not injured. "Kazakhstan is a reliableand stable partner committed to contractualobligations, and acting for their stability. TheKazakh government will adjust its positiononly in respect of those who are not able tofulfill the obligations," -the Prime Ministerstated.In addition, following the II EurasianEnergy Forum the Memorandum on theestablishment of the Caspian InformationInitiative was signed. The Memorandumsuggested a mutually beneficial exchange ofinformation among the initiatives participants;the establishment of a dialogue platform todiscuss the challenges faced by the region;support of contacts and increase of the areasof cooperation between the media, publicorganizations and commercial companiesof the Caspian region. Also, in the course ofthe Forum, the Chairman of the Association,Timur Kulibayev was awarded a certificate ofthe honorary member of the Caspian IntegrationBusiness Club. This organization, whichunites more than 100 companies of thirtystates, established to promote regional tiesamong nations, strengthening of contactsbetween government agencies and privatebusinesses, as well as the development ofintegration processes in the energy and theenvironment protection.2008During the III Eurasian Energy Forumorganized under the "Global Challenges -Energy Solutions" theme, it became knownthat Kazakhstan joined the World PetroleumCouncil (WPC), uniting 60 national committeesof various countries with developed oil andgas industry. As WPC President Randall Gossennoted in a press conference held followingthe forum, our country became a part of theworld's leading nonprofit organization headedby him. "We are very pleased that Kazakhstanhas become a member of our family, becausethe countries in the World Petroleum Councilrepresent 95 percent of global oil and gasproduction." - He said. The honored guestpraised the Forum. He stressed that "thelevel of the solutions made meets the highestKAZENERGY13