Investments in oil, gas sector of Kazakhstan reaches 107 bln USD

09:20, May 05, 2011      

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In the last 10 years investments in Kazakhstan's oil and gas industry have totaled 107 billion U.S. dollars, Kazakh Oil and Gas Minister Sauat Mynbayev said on Wednesday.

"In the last 10 years total investments in the oil and gas sector have come to 107 billion U.S. dollars, 60 percent of which went to the projects where the transnational companies have a share," he told the fourth Astana Economic Forum.

"The transnational companies do benefit Kazakhstan. I do not think such large projects as Karachaganak, Tengiz and Kashagan could have been implemented without the involvement of the global oil companies," he stressed.

The minister said that last year Kazakhstan produced 80 million tons of oil, including 56 million that was extracted by the joint ventures with the transnational companies.

Source: Xinhua
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