Vagit Alekperov, PJSC LUKOIL President and CEO, and Vladimir Kim, President of ТОО Kazakhmys Holding, signed a Memorandum of Cooperation to develop green energy projects in Kazakhstan.
During the first stage the parties will analyse the promising sites to locate renewable energy facilities, which will be followed by decision-making on project implementation based on the alternative energy support measures approved in the Republic of Kazakhstan.
As part of his working trip to Kazakhstan, Vagit Alekperov also visited a formal reception to mark the 25th anniversary of TOO Tengizchevroil that was attended by Nursultan Nazarbaev, President of the Republic of Kazakhstan.
TOO Kazakhmys Holding is a leading Kazakh ore mining enterprise that also runs power engineering facilities. TOO Tengizchevroil was established in 1993 to develop the Tengiz field. LUKOIL joined the project in 1997. The Company holds a 5% stake in the joint venture.