Azernews.Az

By Aynur Jafarova

Cooperation between Kazakhstan and Hungary in the oil and gas sector has been discussed in Budapest, Kazakh oil and gas association KazEnergy said on Wednesday.

The Kazakh delegation was headed by the deputy chairman of KazEnergy Association, co-chairman of Kazakh-Hungarian Business Council Dzhambulat Sarsenov.

According to KazEnergy, cooperation between the national committees of the two countries within the World Petroleum Council was discussed during a meeting with the vice-president of the World Petroleum Council and board chairman of Olajterv oil and gas engineering group, Josef Toth.

In particular, Hungary's support for Kazakhstan's candidacy to host the World Petroleum Congress in its capital city of Astana in 2017, support and willingness to provide assistance in hosting specialized roundtables on the development of local content in provincial Kazakhstan under the auspices of the World Petroleum Council was also among the discussed issues.

During the meeting with the Hungarian co-chair of the Business Council and executive vice-president of MOL Sandor Fasimon, current activities of the Hungarian oil company in the Kazakh fields - Fyodorovskoye and North Karpovsky - were discussed.

According to the report, the sides agreed on closer cooperation between groups of specialists and companies of the two countries engaged in exploration operations. The sides also reached an agreement to hold the next meeting in Astana in May. Sarsenov suggested that the MOL company become a member of the KazEnergy association.

Kazakhstan and Hungary are successfully cooperating in the energy sector. In September 2012, one of the leading producers of oil and gas equipment in Hungary, DKG-East Company, announced its intention to establish an oil and gas equipment manufacturing enterprise in Kazakhstan.

The two companies signed a memorandum of understanding on this project within the frame of the investment forum "Establishment of new production facilities in Western Kazakhstan", which took place in Aktau on September 24-26.

During the Kazakh-Hungarian business forum, held by the Embassy of Kazakhstan in Budapest last September, Hungarian businessmen were invited to participate in projects under a state program on industrial-innovative development.