Since 1996, 52.2 trillion tenge (US$121.6 billion) of investments, were allocated for the development of the oil and gas sector, said Geology Committee Chair of the Kazakh Ministry of Ecology, Geology and Natural Resources Talgat Satiyev at a May 17 Central Communications Service (CCS) briefing.
This accounts for 70 percent of the total volume of investments – 73 trillion tenge (US$170.1 billion) – attracted to Kazakhstan over 25 years. The mining sector made 27 percent – 19.5 trillion tenge (US$45.4 billion). The share of invested funds in geological exploration reached 4 trillion tenge (US$9 billion).
“The highest proportion of oil reserves – 4.4 billion tons, gas – 2.1 trillion cubic meters, condensate – 416.2 million tons are concentrated in the Atyrau Region – around 75 percent and in the Mangystau Region – 11 percent. The three largest deposits Karachaganak, Tengiz and Kashagan have 68 percent of hydrocarbon reserves,” said Satiyev.
Satiyev noted more than 4,000 deposits have been transferred to subsoil use and therefore, bring income to the state and provide employment for the population. The largest investments are directed to priority types of minerals, such as oil, polymetals, copper, gold, iron, uranium, and coal.
A year before, to foster the development of oil and gas production in Kazakhstan, three major oil and gas operators Karachaganak Petroleum Operating B.V., Tengizchevroil, and North Caspian Operating Company N.V. created the International Center for the Development of Oil and Gas Engineering (IMB Center). With the support of Chevron, Total, and ExxonMobil, the IMB Center began its work in April 2021, Astana Times reports.
See all the news
Financial Services in CAREC
#TheCheckpoints: TIWB & Georgia - Interview with Rusudan Kemularia, Head of TIWB Secretariat
Stoli® Group to Release Limited-Edition Bottle in Support of the Ukrainian People
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Aliyev replaces long-serving central bank head with loyalist
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
Business Leaders Council by USAID and Georgian Business
ვინ არის მსოფლიოში #1 სნაიპერი “Wali”?
ბინების ქირის ფასი 50%-მდე გაიზარდა
"Today we are all Ukrainians"- Zurab Pololikashvili
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI
FAQ’s and Analysis on Lari & FDI - Interview with Fady Asly
მინერალური და მტკნარი წყლის ფასები ქართულ ბაზარზე
China continues to push competitors out of the global walnut market
Moscow to Host First Meeting of Turkish & Armenian Special Envoys on Jan 14
Scientists Discover New Part of the Human Body
Turkey's Exports Soar by 33.7% to $21.5B in November