Annual oil production will grow up to 112 mln tons by 2030 - MOG

Date: 05:28, 28-05-2014.

Astana. May 28. KazTAG - Oil production will grow up to 112 mln tons annually, said Uzakbay Karabalin, Minister of Oil and Gas

"The cumulative volume of oil and condensate production in Kazakhstan is expected to be about 112 mln tons a year by 2030. Last year it was 81.8 mln tons," he said.

"Very big resources are expected to come from the Caspian trench, which may increase our stocks by 2-3 times in comparison to what we have, other basins also have big potentials," he added.

Big attention will be paid to oil processing and increase of its volume to 20 mln tons a year with 90% processing depth in comparison to current 14 mln tons.

By 2030 gas production is expected to grow to almost 60 bln cu m against current 40 bln cu m.

Share the news: