Kazakhstan and Oman Sign Agreement to Establish a USD 150 Million Joint Fund

en.Wedoany.com Reported - On October 6, Kazakhstan's Samruk-Kazyna National Welfare Fund and the Oman Investment Authority (OIA) signed an agreement in Astana to establish a joint investment institution, planning to set up a joint investment fund with a total size of USD 150 million at the Astana International Financial Centre (AIFC) before the end of 2026. The two sides will contribute capital on an equal basis, with funds mainly invested in joint investment projects in Kazakhstan and Oman, covering sectors such as energy, manufacturing, food, healthcare, and logistics. The agreement was signed during Omani Sultan Haitham's visit to Kazakhstan.

This agreement continues the two sides' previous investment cooperation arrangements. On April 24, 2026, Samruk-Kazyna National Welfare Fund and the Oman Investment Authority signed an agreement on the main terms of investment cooperation, agreeing to invest in existing enterprises and projects in both countries through joint investment platforms, joint ventures, funds, or other forms of cooperation. On May 19, the management of both sides continued discussions on the progress of establishing the joint fund and potential investment projects. The document signed in October further clarified the fund's size, the principle of equal contributions, and the proposed location.

This cooperation also involves energy project development. KazMunayGas and OQ Exploration and Production New Ventures, a subsidiary of Oman's OQ Exploration and Production, signed a framework agreement under which the two sides will identify and assess potential investment opportunities in oil and gas exploration and development in Kazakhstan, Oman, and other countries. The agreement has not yet specified particular oil and gas blocks, project investment amounts, or development timelines.

In the field of renewable energy, Kazakhstan's Samruk-Energy and Oman's O-Green signed a strategic cooperation agreement to jointly develop renewable energy projects in Central Asia and the Middle East, covering Kazakhstan and other international markets. The cooperation areas include wind energy, solar energy, and supporting energy storage. Industry reports mention a total potential project scale of approximately 2 GW, but the official signing announcements of both sides did not confirm a specific project list or individual project capacities.

The two countries also signed documents on investment promotion and mutual protection, air transport, financial cooperation, and the establishment of a bilateral business council, and reached an agreement on Oman's participation in the Eurasian Development Bank.