Kazakhstan, Atyrau, June 20 / Trend D.Mukhtarov /
Kazakhstan's national oil company KazMunaiGas (KMG) has reserves of 823 million tons of oil and condensate, Deputy Chairman of the Board of Geology and Perspective Projects of NC KMG Kurmangazi Iskaziyev said, speaking at the third International Oil and Gas Conference and Exhibition entitled 'The development of the Caspian shelf' on Thursday in Atyrau.
"NC KazMunaiGas JSC has reserves of 823 million tons of oil and condensate which will enable oil production for the next 40 years," Iskaziyev said.
According to him, the introduction of new technology enables the company to carry out exploratory work at maximum efficiency.
"The expected effect of the exploration will result in an increase of this figure to 1.4 billion tons by 2022," he added.