Kazakhstan has increased oil production and refining. Oil production reached over 1 million 700 thousand barrels per day in the past four months. It was announced by the Kazakh Energy Ministry. The increase is due to expanded output at Kazakhstan’s largest oil fields. Energy Minister said that obligations to OPEC will be fulfilled in the first half of the year.

The number of Kazakhstani companies producing equipment for oil companies is also growing. Many of them receive state support. Among them is the Atyrau enterprise producing oil field equipment. The loan provided by Kazakhstan Development Bank let the plant to increase capacity by 2.5 times; now production is set to reach 20,000 tons of equipment per year. The organization supplies its equipment to Tengiz and Karachaganak.

 

SAGAT TUGELBAYEV, FOUNDER, OIL EQUIPMENT PLANT:

 - Tengizchevroil, Karachaganak Petroleum Operating and NCOC purchase equipment from us on the same requirements as they would have bought in Europe, we just do not cross the state border, that’s it! Everything is in full compliance with international standards. We sell products to a customer; they do not have double standards. We offer same quality products as in in Belgium or Germany, the same requirements.

 

Since the beginning of the year, Kazakhstan Development Bank decided to finance five innovative projects worth over 370 billion tenge. Bankers provide loans for creation of new enterprises in mining and metallurgy and electric power industry.

 

BOLAT ZHAMISHEV, CHAIRMAN, KAZAKHSTAN DEVELOPMENT BANK:

 - At present, we are financing modernization; we are participating in modernization of two oil refineries in Pavlodar and Atyrau. Manufacturing enterprises that work in oil industry request loans.

 

After modernization is completed at the Pavlodar petrochemical plant, it will launch aviation fuel production. Thus, three refineries will cover Kazakhstan’s demand for aviation kerosene by 100%. The output of high-octane gasoline will be increased by almost 300,000 tons. The quality of diesel fuel is improved. New technological complexes will expand the volumes of oil processing from 5 to 6.5 million tons. After the plant’s modernization, oil products will fully comply with the Customs Union technical regulations.

 

KANAT BOZUMBAYEV, KAZAKH MINISTER OF ENERGY:

 - Modernization of all three refineries will let us cover domestic demand for automobile, diesel and aviation fuel by 100%. It is very important. We will produce less fuel oil, but this is good, because the production of more light oil products is better for the economy. We will fully cover domestic demand by 2018.

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