Kazakh President: We need to attract large international companies for new explorations
"We have completed the first five-year industrialization plan and created 80 thousand new jobs. The second stage of the program has started. In the western part of the country there have been realized 177 projects but 50% of them either are not operating or not reaching a planned capacity," said Nursultan Nazarbayev. According to the President, even such major fields as Tengiz and Karachaganak in 10-15 years will reach their production peak. That is why we need to develop new oil fields. For this purpose it is necessary to attract the largest international exploration companies. Head of State stressed that the Caspian basin has huge deposits of unexplored reserves. Nursultan Nazarbayev pointed out the need to increase deep processing of oil and gas. The President stressed that Kazakhstan need to provide higher value-added to extracted resources. That is why Kazakhstan pays much attention to the petrochemical industry. An oil refinery with the production of complex polymers is under construction in Aktobe region. The cost of such enterprises is about USD 5-6 billion. Thus, the government allocates significant funds for the construction of a free economic zone "National Industrial Petrochemical Technopark". Kazakhstan's President also stressed that the processing depth in Kazakhstan is 68%, in Russia - 72%, in the EU - 85%, and in the US - 95%.
