Oil production in Kazakh Mangistau region to double for next 10 years

Oil&Gas Materials 6 May 2011 13:16 (UTC +04:00)

Kazakhstan, Astana, May 6 / Trend A. Maratov /

The oil production in Mangistau region of Kazakhstan will be comparable with the volumes of production of the Gulf countries for the next 10 years, Akim of Mangystau oblast Krymbek Kusherbayev said in an interview with Trend.

"Oil production is planned to double up to 150 million tons per year in Kazakhstan for the next 10 years by developing offshore oil production in the Caspian Sea," he said.

He said that at present, the most promising fields in Kazakhstan are located in the Kazakh sector of the Caspian Sea. They are Kashagan field, Block "H" and "Pearl", located in the Mangistau region.

It is known that the Mangistau region specializes primarily in the oil and gas industry. The region extracts 30 percent of crude oil and gas condensate of the total national volume.

The Mangistau region is in the south-west of Kazakhstan. It has a favorable geo-economic position. The region borders with five countries of the Caspian region.

The international transport corridors TRACECA and North - South, connecting Eastern Europe with Central Asia and northern Europe with the Gulf countries, stretch through its territory.
In this case the Aktau seaport acts as Kazakhstan's western gateway. It plays a key role in ensuring that the country enters the world commodity markets.

Today, Mangistau is one of the leading and supporting regions of Kazakhstan. It makes a significant contribution to the socio-economic development and modernization of the country.