Share of China’s companies in Kazakhstan’s oil production estimated at 24%

Nov 27. Tengrinews

Share of China’s companies in Kazakhstan’s oil production estimated at 24%The share of China’s companies in the Kazakhstan’s oil production makes up 24%, KazTAG reports, citing the Press Service of the Oil and Gas Ministry.

The Ministry elaborated that “primarily, Chinese companies work at oil deposits based in Kyzylorda ad Atyrau oblasts, with both regions seeing gradual decline of production (…) given the decline, their share is set to drop to 14%”.

Early January 2013 KazTAG reported, citing an unidentified source, that “According to some estimates, Chinese companies will have gained control of over 40% of Kazakhstan’s oil by the fall 2013 which means that in future the Chinese will be responsible for production of over 40% of all the crude in Kazakhstan”.

According to the Oil and Gas Ministry, Kazakhstan plans to produce a total of 82 million tons of crude and condensed gas in 2013, with the figure to be brought up to 83 million tons by 2014 and to 90 million tons by 2015.

In 2012 crude and condensed gas production output totaled 79.2 million tons (1.1% down as compared to 2011).

http://en.tengrinews.kz/markets/Share-of-Chinas-companies-in-Kazakhstans-oil-production-estimated-at-24-24323/

 

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