Algoritmi KZ Announces Partnership with Turkish Company AA and Partners
Algoritmi KZ LLP and AA and Partners are proud to announce the creation of a partnership focused on the development of relations between Kazakhstani and Turkish companies operating in the Oil & Gas sector.
The partnership aims to improve the already strong relations between the two countries through facilitating joint ventures and the creation of strategic partnerships.
Recent developments such as the Future Growth Project and the Wellhead Pressure Management Project, launched in January 2017 and worth an estimated US $36.8 billion by Tengizchevroil LLP (TCO), make Kazakhstan of ever greater interest to foreign companies wishing to expand operations in the Oil & Gas sector.
Luigi Matticari, Algoritmi’s Chief Executive Officer believes that: “With an ever greater requirement for qualified Suppliers and the delivery of specialised professional services, the Kazakhstani oil and gas sector is a valuable and interesting market for Turkish companies. Excellent relations exist between the two countries and this facilitates the creation of joint ventures considerably.”
He added that: “We will work with AA and Partners to bring Turkish and Kazakhstani companies together in a way that will benefit them and the major operators in the oil and gas industry.”
The two countries already share extensive trade relationships and Turkey accounts for a considerable percentage of Kazakhstan’s total trade volume.
With 172 oil fields, Kazakhstan is among the top 15 countries in the world in terms of essential oil reserves. More than 90% of oil reserves are concentrated in the 15 largest oil fields - Tengiz, Kashagan, Karachaganak, Uzen, Zhetybai, Zhanazhol, Kalamkas, Kenkiyak, Karazhanbas, Kumkol, North Buzachi, Alibekmola, Central and Eastern Prorva, Kenbai, Korolevskoye.
AA and Partners founder and General Manager Mert Ozgenc commented that: “We believe that the current situation in Kazakhstan is particularly interesting and offer a number of opportunities to Turkish companies wishing to participate in the development of the Oil and Gas sector.”
“Our objective in partnering with Algoritmi KZ is to match our knowledge of the Turkish market with the details that Algoritmi, the operator of the Alash Unified Database of suppliers to the Kazakhstan oil and gas sector, hold in their extensive database. Together we will be offer some unique services that will benefit both Turkish and Kazakhstani companies.”
Oil fields can be found in six of the fourteen provinces of Kazakhstan. They are the Aktobe, Atyrau, West Kazakhstan, Karaganda, Kyzylorda and Mangystau provinces. About 70% of the hydrocarbon reserves are concentrated in western Kazakhstan.
Over $500m will be invested over the next years in major government programmes for the exploration of resources in the Caspian Basin with the aim of doubling the oil potential of Kazakhstan.
A further $300m will be invested in extensive modernisation programs of the nation’s oil and gas industry. These investments highlight the abundance of opportunities in the Kazakhstan oil and gas market.
The expansion of the Kashagan and the Tengiz oil fields are among the biggest projects in the world in terms of investment.
Algoritmi KZ is a leading company in the ICT Industry, and has been working on projects in Kazakhstan since 2003, when Agip KCO began using the DOCAP system to submit its suppliers to the qualification process, performance monitoring and adherence to international standards.
Algoritmi KZ is the owner of the ALASH Unified Database, which allows every type of organisation to become suppliers to the major Companies in the Oil & Gas industry, such as KPO, NCOC, TCO and Nostrum, by registering and maintaining their data updated through the use of a questionnaire for the pre-qualification.
AA and Partners is an advisory group specialized in energy, oil and gas, power, water and environmental sectors of Turkey, Russian Federation, CIS Countries and Africa. Thanks to its extensive network and hands-on approach on advisory services, AA and Partners accelerates the growth of its clients, shares the knowledge and shapes the business.