Kazakhstan, Astana, Sept. 7 /Trend D.Mukhtarov/
About 16 agreements and contracts on cooperation in various spheres of economy are planned to be signed in Astana on Saturday during the first visit of Chinese President Xi Jinping to Kazakhstan, a representative of Kazakhstan's Ministry of Industry and New Technologies told Trend.
"About seven agreements only will be signed by the presidents of the two countries and about nine agreements between the relevant ministries of Kazakhstan and China," the source said.
According to him, the matter rests in such projects as the construction of power plants and refineries.
The ministry's representative also noted that one of the main agreements will be signed for energy sector of Kazakhstan - on Kashagan oil field.
In July Kazakhstan's Ministry of Oil and Gas sent a notification to American company ConocoPhillips on government's intention to use its priority right to acquire the stake of ConocoPhillips in Northern-Caspian project.
National Company KazMunaiGas (KMG) acted as the buyer of stake of ConocoPhillips in the Northern-Caspian project on behalf of the government.
Earlier Lyazzat Kiinov, who was at that time holding the position of the head of KMG, said in an interview with Reuters that the Chinese energy giant CNPC will buy a stake in Kashagan field from KMG paying over $5 billion for it.
Kashagan is a large oil and gas field in Kazakhstan, located in the north of the Caspian Sea. Geological reserves are estimated at 4.8 billion tons of oil. The total oil reserves amount to 38 billion barrels or 6 billion tons, some 10 billion out of them are recoverable. There are large natural gas reserves at the Kashagan field - over one trillion cubic metres.
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