Kazakhstan developing geological exploration program

Oil&Gas Materials 9 March 2019 09:10 (UTC +04:00)

Baku, Azerbaijan, Mar. 9

By Rashid Shirinov – Trend:

Kazakhstan is working on the development of the Geological Exploration Program for 2021-2025, Trend reports via Kazakh media.

The Energy Ministry of the country informed that the development and coordination of the program are planned to be completed this year.

"This program will be aimed at conducting regional geological and geophysical studies, identifying potential oil and gas prospects, and increasing the level of study of these areas as a base for attracting private investment in the future," the ministry said.

Currently, the Geology and Subsoil Use Committee and KazMunaiGas are analyzing the poorly studied areas in all sedimentary basins of Kazakhstan. In particular, studies are conducted in the Aral, Syrdarya, Shu-Sarysu, North Turgay, Priirtysh, North Kazakhstan, Teniz, Balkhash, Zaysan, Alakol and Ili basins.

The ministry noted that priority directions, types and volumes of geological exploration, including those financed from the national budget, will be determined.

"The ministry is ready to hold an auction if investors are interested in obtaining the right of subsoil use at free sites," reads the message.


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