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November 2018
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Wednesday, 20 June 2018 10:30

Kazakhstan to increase oil production

Kazakhstan to increase oil production

“By 2024 oil production at Kashagan is expected to grow from 13 million to 16 million tonnes per year. Since the very beginning of the project implementation (since 1998) the amount of investments in the social and infrastructure development of Atyrau and Mangistau regions has comprised $570 million. In general, $50 million is allocated every year for the social and infrastructure development, Minister of Energy of the Republic of Kazakhstan Kanat Bozumbayev said at the meeting in front of the population, Caspian Energy News (www.caspianenergy.net) reports with reference to the press service of the Ministry of Energy of the Republic of Kazakhstan.

“Annually $20 million is allocated for social and infrastructure development of the region. More than 30,000 Kazakhstanis work at Tengiz within the framework of the future project expansion. Investments in the project amount to about $38 billion, actual development over 2 years exceeded $11 billion, and the 2018 plan is more than $7 billion. 2022 onwards oil production at Tengiz will increase from current 27 to 39 million tonnes per year. Since 1993, Tengizchevroil has contributed more than $1.5 billion into the social projects for the population of the Atyrau region”, the minister added.

More details:  http://energo.gov.kz/index.php?id=20354

Person in charge of the newsline: Fidan Isayeva

 

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