GOVERNMENT: Kazakhstan implements project on exploration of deep-laying oil-bearing horizons


GOVERNMENT: Kazakhstan implements project on exploration of deep-laying oil-bearing horizonsThe Government of Kazakhstan works on expansion of the resource base of the oil sector. The state support of local manufacturers will continue to be rendered.

At the international geological exploration forum, which was held in Astana, First Deputy Minister of Energy Uzakbai Karabalin informed that Kazakhstan would begin implementation of the biggest oil project “Eurasia” in the Caspian Lowland with the total cost of 500 billion US dollars.

According to him, so far, oil has been produced in Kazakhstan mainly at the deposits of the Caspian Lowland where about 75-80% of the country’s hydrocarbon resources are concentrated. It is expected that the production volume will decrease at Tengiz and Karachaganak deposits in 15-20 years. However, it is possible to make up for that by means of exploration of deep-laying oil-bearing horizons.

According to the results of the comprehensive analysis, the deep-laying resources of the Caspian Lowland totaling about 67 billion tons of fuel oil equivalent and 27 billion of extracted fuel. It means that the recourse base of the oil can be increased three times.

Implementation of “Eurasia” project will allow Kazakhstan to accumulate the best world practices of the hydrocarbon geology and geophysics and give a new impetus for the growth of Kazakhstan high technologies and development of top specialists for the sector.

According to U. Karabalin, the system of online monitoring over oil production will be launched since 2017.

Minister of Investment and Development of Kazakhstan Asset Issekeshev informed that KZT 3 billion 260 million would be allocated for exploration of oil deposits in 2015.

As it was informed earlier, taking into account the growing pressure on the market of Kazakhstan from Russian companies, the Government of Kazakhstan plans to increase the state support of poultry farming in the country. The subsidies will be allocated for cheapening of the feed stuff.

The 16th congress of the ruling Nur Otan Party was held in Astana last week, where President Nursultan Nazarbayev set a number of new tasks. The majority of them regard improvement of the state management system. Institutional reforms required for strengthening of the statehood are about expanding accounting practices of the heads of state agencies and ensuring transparency of made decisions.

Citizens should be actively involved in the decision-making process of all levels through the mechanisms of open government. The role of public councils functioning within the state bodies and administrations will be strengthened.

Besides, the mechanism when civil society is involved in distribution of budget funds in the regions will be introduced. The law will have the norms giving people more rights to appeal the actions of the civil servants.

Upon completion of the institutional reforms, the authorities of the president, government and the parliament will be redistributed.