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KMG plans to double own oil reserves

Oil&Gas Materials 8 October 2010 10:51 (UTC +04:00)
The Kazakh National Company KazMunaiGas (KMG) intends to double the resource base in next 10 years, KMG CEO Kairgeldy Kabyldin said.

Kazakhstan, Astana, Oct. 8 / Trend S.Suleymanov /

The Kazakh National Company KazMunaiGas (KMG) intends to double the resource base in next 10 years, KMG CEO Kairgeldy Kabyldin said.

"The company has a strategy on all fronts up to 2010, which aims to increase its own oil reserves, production and refining," Kabyldin said.

According to him, today the company's reserves amount to 780 million tons.

"They will be doubled and brought to 1.6 billion tons by 2020," he said.

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