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JSC "Bank TuranAlem" expands its cooperation with Agip KCO

13.03.2006

Representative delegations of JSC "Bank TuranAlem" and Agip KCO met today to discuss questions regarding North-Caspian project, achievements and prospects of further cooperation. Delegations were headed by Saduakas Mameshtegi, Chairman of the Management Board and Stefano Goberty, Director of Finance, Taxation and Control, respectively.

As a result of the meeting it was decided to organize a Forum on financing of Agip KCO contractors in May, 2006.

Both sides highlighted the increase of the volume of financial operations through Bank TuranAlem’s Internet banking system, installed by BTA specialists at Agip KCO. Agreement on provision of direct guarantees from Bank TuranAlem was achieved.

Previously BTA opened its branch office and installed ATM machines in Bautino village – Agip KCO marine operations support base. Working closely with Agip KCO, BTA successfully realize salary projects and has developed mortgage loans program Agip KCO employees.

JSC "Bank TuranAlem" - system-making bank of Kazakhstan, leading in creation of banking network on the territory of CIS. Bank’s assets exceed 7.2 billion USD; equity capital exceeds 800 million USD. Bank’s shareholders are the world largest institutions such as EBRD, RZB, IFC and FMO. In Kazakhstan the Bank confidently holds the leading position among the second-tier banks in the field of trade financing, SME loans and mortgage lending. Bank’s development strategy includes geographical diversification and the extension of the range of provided services, as well as stable dynamic growth.

Agip KCO (Agip Kazakhstan Caspian Operating company) is the part of ENI group and operates on behalf of seven international partners (ENI – Agip Capsian Sea B.V., KazMunayGas, INPEX, ExxonMobil, ConocoPhillips, Shell and TotalFinaAlf). At present Agip KCO is the sole operator of evaluation and prospecting works in Kazakhstan part of Capsian Sea according to North Caspian PSA (Production Sharing Agreement).