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Foreigners continue investing in oil, gas production in Kazakhstan

Business Materials 11 July 2016 19:44 (UTC +04:00)

Baku, Azerbaijan, July 11

By Elena Kosolapova – Trend:

Despite the low oil prices, the lion’s share in the foreign investments made in Kazakh economy accounts for the oil and gas production and geological exploration, read a message from the National Bank of Kazakhstan.

Direct foreign investments in the oil and gas production in Kazakhstan stood at $958.4 million in January-March 2016, while the investments in geological exploration and survey totaled $1.51 billion.

During the period, the foreign investments in the metal ore production in the country stood at $137.5 million.

The foreign investments made in Kazakhstan’s processing industry totaled $509 million in the first quarter of 2016, while $522 million was invested in the metallurgical industry and manufacturing of fabricated metal products, except for machinery and equipment.

The foreign investments in Kazakhstan’s construction sector stood at $97.1 million in the first quarter of 2016.

The foreign investments in transportation and warehousing in the country totaled $198.9 million.

This is while, $200 million of foreign investments accounted for transportation via pipelines and $416.4 million was invested in communication. Foreign investments in the financial and insurance activities stood at $69.5 million in the first quarter of 2016.

In total, around $4.28 billion was invested in Kazakhstan’s economy in the first quarter of 2016, as compared to $4.37 billion in the same period of 2015.

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Follow the author on Twitter: @E_Kosolapova

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