Abu Dhabi, Kazakhstan set up US$1b energy investment fund

Abu Dhabi, July 23, 2008 (WAM)- In line with the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and General HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the government of Abu Dhabi, represented by the International Petroleum Investments Company (IPIC) has signed an agreement with the Government of Kazakhstan to establish a US$1 billion joint fund forinvestment in energy and other sectors.

The agreement comes within the framework of IPIC's strategy for future projects, being implemented under the supervision of HH Sheikh Mansour bin Zayed Al Nahyan, Minister ofPresidential Affairs and Board Chairman of IPIC.