$660 million needed to reverse Kazakhstan pipeline

Oil&Gas Materials 11 October 2012 18:56 (UTC +04:00)

Kazakhstan, Astana, Oct. 11 /Trend D.Mukhtarov/

According to preliminary data, some 100 billion tenge ($664.5 million) will be required to reverse operations of the "Kenkiyak Atirau" pipeline, the director general of "KazTransOil" Kayrgeldi Kabildin said during an exclusive interview with Trend on Thursday.

"The basic engineering phase is nearing completion. The decision to invest will be made following the presentation of documents. According to preliminary data, the project cost for organizing the reversal of the "Kenkiyak Atirau" pipeline will amount to approximately 100 billion tenge," Kabildin said.

In his words, this volume of investments will be required for construction of new pump stations to increase pipeline capacity.

The general director said that the final decision will be made after consideration of all risks and responsibilities of parties.

Kabildin said the reverse will also operate outside the "Kenkiyak Atirau"area to provide the Chinese market access to Western Kazakh oil.

In his words, the project capacity will be 12 billion tons. The reverse must be completed in 2014