KazEnergy Forum 2011 Gathers Oil Business’ Decision-Makers in Astana

Sep 27. MFA

KazEnergy Forum 2011 Gathers Oil Business’ Decision-Makers in AstanaThe 6th Eurasian KazEnergy Forum will take place on October 4-5 in Astana. During the two days governments officials from a number of countries and heads of transnational energy corporations, together with reputable Kazakh and international experts will exchange views and experiences on various aspects of oil and gas and nuclear industry’s future development on the Eurasian and global scale.

This time the suggested topic for discussion is “Kazakhstan: 20 years of sustained growth, new horizons of investment and stable cooperation.”

Chairman of KazEnergy Association Timur Kulibayev noted that “over these years our country has come as a sovereign authoritative, dynamically and steadily developing state, being and recognised as a full member of the international community”.

The share of Kazakhstan in the global oil market has almost doubled. By 2015 Kazakhstan is expected to be producing about 95 million tonnes of oil and condensate and more than 59 billion cubic meters of natural gas per year. At the same time, with 17.8 thousand tonnes produced per year, the country has become the worldwide leader in natural uranium production.

In general, a stable and dynamic structure of the energy sector has shaped in Kazakhstan during the years of independence. According to main economic indicators, Kazakhstan has been at the lead among the countries of the former Soviet Union. A modern economic structure has been formed and a financial system has been created.

In this regard, the session entitled “Energy Geopolitics of Eurasia: challenges and new horizons” proposed as part of the “KazEnergy Eurasian Forum”, is highly relevant. The state’s energy development involves interconnection, globalisation and partnership with other countries. Today it is very important for Kazakhstan to attract as much investment as possible for state’s diversification projects which in their turn would allow achieving stable development of the human and economic potential.

The important topics for discussion of economic development issues can be expected in the next, no less interesting session, “New horizons for oil and gas development: investing and innovation in new technologies.” Forum participants are expected to discuss the partnership of national operators with foreign oil companies. Other relevant topics such as liquid hydrocarbon production at the Karachaganak field, relations among countries in the Caspian region and the prospects of oil producing in the Caspian Sea will be in the focus of discussion during the forum. One of the biggest challenges regarding the Caspian Sea is the unresolved legal status of the sea. The Caspian issue has been extremely important for Kazakhstan as the possibility of diversification of exports of hydrocarbon resources would allow strengthening state’s energy independence.

Along with it, a gradual and orderly development of the Tengiz, Karachaganak and Kashagan fields, along with increased production of hydrocarbons, resolves many other important aspects. Since the development of the fields allows using a great number of domestic enterprises, creating new jobs and getting additional opportunities for development of many Kazakh contractors and suppliers. The companies involved in fields development, are contributing in social reconstruction of adjacent areas. In all projects, Kazakhstan is working with major international companies introducing their new technologies.

At the session devoted to new opportunities of renewable energy sources and nuclear energy development Forum participants will address the issue of introducing innovations into the industry. Despite the recent developments in the nuclear industry following the Fukushima plant catastrophe, organizers of the forum believe it would be unwise to ignore the fact that the world generates more than 15% of the total energy from the nuclear industry. Discussion of all these issues at the session promises to be very emotional and interesting.