As Kazakhstan steps into a new constitutional era, the government is also doubling down on one of its biggest economic priorities — attracting global investment.
Meetings between Prime Minister Olzhas Bektenev and executives of Eni and Baker Hughes signal that the country's energy sector is entering a new phase focused on technology, localization, and long-term industrial growth, DKNews.kz reports.
Foreign investment remains one of Kazakhstan's strongest economic drivers, and the government is making it clear that energy will continue to play a central role.
On the sidelines of the 38th plenary session of the Foreign Investors' Council under the President of Kazakhstan, Prime Minister Olzhas Bektenev held separate meetings with senior executives from Eni S.p.A. and Baker Hughes, discussing the next stage of cooperation across the country's oil and gas industry.
New Constitution, New Investment Agenda
Opening the meetings, Bektenev noted that Kazakhstan's New Constitution entered into force today, calling it an important milestone in the country's development.
He emphasized that under the leadership of President Kassym-Jomart Tokayev, Kazakhstan continues to pursue an investment-driven economic strategy aimed at sustainable and diversified growth.
"Last year, the inflow of foreign direct investment exceeded $20 billion. This year, Kazakhstan plans to attract more than $25.5 billion in foreign investment into the national economy."
The message was clear: constitutional reforms are being accompanied by efforts to strengthen investor confidence and accelerate major industrial projects.
Eni Advances Kazakhstan's Energy Transition
During talks with Luca Vignati, Director for Exploration and Production of Global Natural Resources at Eni S.p.A., discussions focused on expanding Kazakhstan's energy infrastructure.
Particular attention was given to the construction of the 247 MW hybrid power plant in Zhanaozen — one of the country's flagship energy projects.
The facility is expected to introduce advanced low-carbon technologies while improving the reliability and resilience of Kazakhstan's power system, supporting the government's broader energy transition strategy.
Baker Hughes Expands Local Manufacturing
Localization and technology transfer dominated discussions with Lorenzo Simonelli, Chairman and Chief Executive Officer of Baker Hughes.
The company has already localized the production of 174 types of spare parts in Kazakhstan, while nearly 100 additional components are currently being developed together with local suppliers.
An even more significant figure highlights the company's local presence: 95% of Baker Hughes' service operations in Kazakhstan are now carried out by Kazakhstani divisions and specialists.
According to the discussions, Baker Hughes plans to further expand its manufacturing footprint, strengthen partnerships with domestic companies, introduce digital solutions for industrial equipment monitoring, participate in new gas processing projects, support the creation of modern production facilities, and contribute to decarbonization initiatives.
Beyond Investment: Technology and Industrial Development
The meetings reflected a broader shift in Kazakhstan's economic policy.
Rather than focusing solely on attracting foreign capital, the government is increasingly prioritizing investments that bring advanced technologies, create skilled jobs, localize production, and develop domestic supply chains.
For global energy companies, Kazakhstan continues to offer one of the region's largest resource bases alongside growing opportunities in clean energy, digital industrial solutions, and manufacturing.
Looking Ahead
The talks concluded with both sides reaffirming their commitment to expanding investment cooperation and implementing new joint projects.
As Kazakhstan combines constitutional reforms with an ambitious investment agenda, partnerships with companies such as Eni and Baker Hughes are expected to play an increasingly important role in modernizing the country's energy sector and strengthening its position as a regional industrial hub.
