Abstract: Kazakstan Moves to Promote Investment

ZANA, NICK

As the first and still the largest joint venture in Kazakstan, Tengizchevroil's experience is a test case for investment in this oil-rich Central Asian nation. In general, TCO has found Kazakstan to be a good place to do business.

It is a land of vast natural resources; it has a well-educated labor pool, and it has demonstrated a strong desire for economic growth. Kazakstan is also a country that values progress, which is why so many companies have come here and why many more will continue to come.

Successful companies will exhibit qualities such as patience, acceptance of cultural differences, awareness of social responsibility to local communities, ability to negotiate with multiple governmental organizations, and -- above all -- a commitment to long-term investment.

Applying these principles, TCO has faced early challenges and been able to significantly increase oil production, pay dividends to the host government of Kazakstan, make progress on crude oil transportation to world markets, and invest in local communities and in environmental programs. In the near future, government permitting, tax policy and privatization will further improve the climate for investment.

AAPG Search and Discovery Article #90942©1997 AAPG International Conference and Exhibition, Vienna, Austria