Expert: New tasks of Kazakhstan’s oil and gas sector show ambitions of young country
Astana, Kazakhstan, Jan. 31
By Daniyar Mukhtarov - Trend:
New plans for the Kazakhstan's oil and gas sector show that the young country has ambitions, wants to understand the latest trends in the world and desires to hold a worthy position in the global economy, Kazakh political scientist Edward Poletaev told Trend.
The political scientist recalled that the government set the goals mentioned by the president in his recent address to the nation, particularly in the sphere of geological exploration. As is known, President Nursultan Nazarbayev said then that the republic still has many unexplored fields.
Earlier, chairman of the Board of KazMunaiGas NC JSC Kurmangazy Iskaziev said at the board of the Oil and Gas Ministry that in accordance with the development strategy of the JSC until 2022, KazMunaiGas has set the goal of entering the top 16 companies for oil and gas reserves.
"We intend to increase the recoverable reserves of liquid hydrocarbons from the current 812 million tons to 1.4 billion tons. To this end some 797 billion tenge of investments ($1= 155.17 tenge) will be spent for geological exploration," Iskaziev said.
Additionally, Oil and Gas Minister of Kazakhstan Uzakbai Karabalin stated that one of the goals of the country's oil industry is to increase the production volume. Currently, the ministry considers three basic scenarios for oil production: "accelerated", "economical" and "pragmatic", according to the chairman.
"The third scenario "pragmatic" is the most optimal one," he said. "It is aimed at consistent production growth to 100 million tons in 2020, to 110-115 million tons by 2030, as well as stabilization of production in 2040-2050 at the level of 110 million tons."
"Kazakhstan's plans on increasing oil production may remain unrealized without proper attention to the subsoil development," he said.
"Moreover, the term of resuming production at Kashagan remains unknown, but there are ambitious plans to build the fourth refinery in the country," he added.
He recalled that Kashagan was commissioned in autumn 2013, but the production was suspended three weeks later.
"The investors who have invested billions of dollars into this project show interest in the future development of this project," he said. "The project will not be closed. At the same time, the situation is being changed. Kashagan is not a dream. One can understand the complexity of the project."
"The geological exploration in the oil industry is a lottery, in which one can win or lose," he said. "But there is always a chance to discover something new and more attractive."
Translated by L.Z., N.H.
Edited by C.N.