Kazakhstan’s oil production will grow up to 115 million tonnes per year by 2030. By this time, most of the oil will be extracted at Kazakhstan’s major oil fields such as Tengiz, Karachaganak and Kashagan. Currently, Kazakhstan has 12th largest oil reserves in the world. Over the years of independence, extraction in Kazakhstan grew more than three times and currently totals 80 million tonnes.          

KANAT BOZUMBAYEV, KAZAKH MINISTER OF ENERGY:

- A new subsoil use code come into effect on July 1. It includes quite new approaches to geological exploration in oil and gas industry. Our Ministry together with our colleagues from other government bodies is set to start implementing these approaches on July 1. Changes introduced to the tax code has caused practical interest. 

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