Azerbaijan, Baku, Oct. 20 / Trend E.Kosolapova /
KazMunaiGas Exploration Production intends to increase recoverable reserves by 39 percent or 850 million barrels, Bazar Eskozha, Senior Geologist of KazMunaiGas Exploration Production has said today at a conference in Almaty, the Novosti-Kazakhstan reported.
The current recoverable reserves constitute 2.2 billion barrels of oil equivalent
"These plans are based on current short-term program of the company," Eskozha said. "The reserves will be increased through holding exploration work at existing and new fields. In particular, the company plans to explore oil both in northern areas of Kazakhstan - Pavlodar region, and in southern areas - near the Syr Darya, in and near the Aral Sea."
KMG EP is among three leading oil and gas producers in Kazakhstan. Proven and probable oil reserves of KMG EP at the end of 2009 amounted to 234 million tons (1.7 billion barrels), or about 2.2 billion barrels including shares in affiliated companies