According to Finprom.kz, rising prices for raw materials stimulate oil companies to increase investments in their development. During the first 4 months of 2016, the amount of investments in fixed capital of crude oil and natural gas manufacturing enterprises increased by 71% compared to the same period last year and made up 594 billion tenge. The main factor in the industry’s growth is the interest of foreign investors - the amount of attracted funds has grown in 52 times compared with January-April 2015. In January-April 2016, the sector’s total output volume amounted to 2.1 trillion. tenge which is 15% above the last year’s production level. In the first four months of 2015, the volume of oil and gas production fell by 45% in Kazakhstan compared to the same period in 2014. 

 

Photo: finik.me

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