Kazakhstan intends to increase oil production, Energy Minister

ASTANA. KAZINFORM - Oil industry remains one of the main sources of income to the budget of Kazakhstan, this has been stated by Minister of Energy Kanat Bozumbayev during the reporting meeting to the public council of fuel and energy complex and environment.

"The oil industry is one of the main sources of revenue in the budget. According to the main objectives of the country's development Strategy-2050, it is planned to further increase the rate of oil production," said K. Bozumbayev.
According to the minister, the main increase in the volume of oil production will be provided by such companies as "TCO", "Karachaganak Petroleum Operating BV" and "Kashagan".
However, he stressed that all the other fields in the medium term will show decline in the production.
Energy Minister also said that during the crisis measures were taken in support of the industry including tax burden reduction.

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