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Forum on Financing of Agip KCO Contractors


Representative delegations of JSC "Bank TuranAlem" and Agip KCO met on 3 March 2006 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.

Assylmurat Ramazanov, Managing Director, JSC "Bank TuranAlem" commented today upon Forum on financing Agip KCO contractors, discussed during the meeting: "As planned, the Forum will gather the management of companies working in Atyrau region on contract base with Agip KCO. We are very grateful to Agip KCO for this splendid idea. Initiatives of large companies, on expansion of participation of Kazakhstan in contract works, are very important to us, Kazakhstan bank. Representatives of several Kazakhstan banks will participate on equal conditions in Forum, planned by Agip KCO. Everyone will have a chance to speak to potential clients and tell them about their achievements, experience and technologies. Thus, this idea is a real step forward to development of cooperation between Kazakhstan and international companies."

JSC "Bank TuranAlem" - system-making bank of Kazakhstan, the leader 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 expansion 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 Caspian Sea according to North Caspian PSA (Production Sharing Agreement).