About 40million tons of oil was produced in Kazakhstan in the first half of 2016 and, processed more than 5%. Minister of Energy, Kanat Bozumbayev reported on the development of oil and gas, petrochemical and power industries at the meeting with the President Nursultan Nazarbayev. Kanat Bozumbayev also talked about the implementation of major investment projects in the petroleum and energy industries, among them is the commissioning of the Kashagan field operation before the end of 2016, as well as the expansion capacity of Tengiz and, increasing of liquids production at the Karachaganak field. The Head of state drew attention to the need for further development of the energy sector to ensure a high level of competitiveness. Nursultan Nazarbayev instructed to continue work on improvement of national energy and, necessity of wide exploitation of low-carbon raw materials and renewable energy sources.

 

Kanat BOZUMBAYEV, KAZAKH MINISTER OF ENERGY:

I reported to the President about the results of the industry in the first half of 2016, in particular about outcome of the oil and gas industry, as well as the volumes of oil, gas, power generation, coal and uranium. This year the production should reach 75 million tons and, we are going to close the plan. Almost 100% of the electricity was generated compared to last year.

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