The Caspian Energy Hub, which is GFH’s first investment in the country, will be on the Caspian Sea coast at Aktau.
The services hub will provide commercial, technical and staffing services to the oil and gas industry. It will initially target the companies in Kazakhstan, and later expand to the wider Caspian region.
Kazakhstan has proven reserves of 39.8 billion barrels of oil and 3 trillion cubic metres of gas. It plans to double oil production and triple natural gas output by 2015, from the current levels of 1.4 million barrels a day of oil and 23.9 billion cubic metres a day of gas.
The hub will feature a science and technology park, a geophysical data laboratory, training facilities, an IT development centre, an environmental research centre and a renewable energy centre.
GFH has previously developed similar energy-focused business clusters in Qatar, India and Libya.