Kazakhstan to allocate over $17.5 million to oil exploration in 2015
Baku, Azerbaijan, Mar. 12
By Elena Kosolapova - Trend:
Kazakhstan intends to allocate over 3.2 billion tenge (about $ 17.6 million) to conduct geology exploration in 2015, Novosti-Kazakhstan quoted Kazakh Investment and Development Minister Asset Issekeshev as saying on March 12.
"In 2015, 3.26 billion tenge from the national budget and the National Fund will be allocated to new oil and gas exploration works on in the country's regions," Issekeshev said at the first forum "Exploration in Kazakhstan: the focus on oil and gas."
The minister noted that in particular, geophysical surveys on two geology traverses will be carried out and two parametric key wells will be drilled.
"I would like to note that the state will pay for geology works in the least studied areas where it is problematic to attract investors," Issekeshev said.
In turn, Kazakh First Deputy Energy Minister Uzakbai Karabalin said that a total number of 203 subsoil use contract in the field of hydrocarbons have been registered in Energy Ministry so far, including 59 exploration contracts, 64 production contracts, 68 mixed exploration and production contracts and 12 contracts under the Production Sharing Agreement.
"In the period from 2009, a total number 21 contracts and 16 supplements to contracts on transition from exploration to production have been signed in Kazakhstan," he said. "In 2014 a total number of 212 exploration wells were drilled in Kazakhstan. In 2015 the Ministry expects the subsoil users to drill up to 200 exploration wells."
Edited by S.I.
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