PM: Kazakhstan intends to increase oil production to 130 mln tons per year by 2020

Oil&Gas Materials 16 December 2011 18:23 (UTC +04:00)

Azerbaijan, Baku, Dec. 16 / Trend E. Kosolapova/

Kazakhstan intends to increase oil production to 130 million tons per year by 2020, Kazakh Prime Minister Karim Massimov said in an exclusive interview to the Caspian Energy journal (www. caspenergy.com).

According to Massimov's forecast, gas production should reach 93.5 squire meters per year by 2020.

Massimov said that Kazakhstan is adherent to the idea of multi-vectoral energy supplies.

"Kazakhstan is interested in developing equitable and mutually beneficial relations with all countries and integration unions," Massimov said

Massimov said that Kazakhstan has practically created a system enabling all oil producing companies in Kazakhstan to select more attractive and stable markets for Kazakhstan oil.

Currently, Kazakhstan's main partner at the oil market is the European Union. It accounts for about half of Kazakhstan's oil turnover.