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Tengizchevroil and EBRD share success of joint program

Tengizchevroil and EBRD share success of joint program Tengizchevroil and EBRD share success of joint program

Nur-Sultan, December 3 - Neftegaz.RU. Tengizchevroil (TCO) and European Bank for Reconstruction and Development (EBRD) conducted a business workshop for representatives of Small & Medium Enterprises (SME) to discuss urgent issues related to Kazakh Content development in oil and gas industry, Kazinform has learnt from the company’s press service.

During the workshop, TCO and EBRD shared their interim results of the joint program that has been implemented for the last 4 years. The program was launched in 2015 and it is one of the tools used to improve opportunities and capabilities of SME entities focused on the oil and gas industry.

One of the supportive forms within the framework of the program is with help of EBRD to arrange and co-finance consultation projects where Kazakhstani entrepreneurs providing their services and goods in oil and gas industry, may attract local and foreign consultants.

Since the program was launched, 26 projects with involvement of local consultants and 7 projects with involvement international industry experts were initiated. According to TCO Policy, Government and Public Affairs General Manager Artygaliyev, among the completed projects of 73% program participants their amount of business was increased to some 66%, a number of jobs was increased to 32% and workforce productivity was increased to 35%.

In his conclusion, Artygaliyev highlighted positive changes of Kazakhstani suppliers in TCO purchase and bids. «If 5 years ago the sum of spent money to purchase of local goods and services amounted to $2.4 bln, and by the end of Q3 2019, this indicator exceeded $3.4 bln. In total since its operation TCO spent to purchase local goods and services over $31 bln», he added.

Further, EBRD representatives noted that currently 5 companies participating in this program have become TCO suppliers or extended their supplies as a result of successive improvements in business with assist of highly qualified consultants.