ADVERTISEMENT

Reach Energy, Mangystau ink MoU to enhance M’sia-Kazakhstan ties


Shahul Hamid says Reach Energy plans to increase the number of its oil and gas wells in the Mangsystau region from 54 now to 88 by 2026.

Shahul Hamid says Reach Energy plans to increase the number of its oil and gas wells in the Mangsystau region from 54 now to 88 by 2026.

ASTANA (Kazakhstan): Reach Energy Bhd , a listed Malaysian oil and gas exploration production company, on Wednesday inked a memorandum of understanding (MoU) with Akimat, the regional government of Mangystau, southwestern region of Kazakhstan.

Under the MoU, Reach Energy will assist in attracting Malaysian companies to invest in priority industries in the region such as oil and gas, infrastructure, construction, electricity and water supply, as well as tourism projects, targeting an investment of US$500mil to US$1bil (RM2.1bil to RM4.3bil) over three years.

   

ADVERTISEMENT