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KazMunaiGas investment program for 2009 includes 65 projects

Astana. January 23. Kazakhstan Today - The investment program of JSC National Company KazMunaiGas for 2009 includes 65 projects for the total cost of 696 billion KZT. The President of the National Company KazMunaiGas, Kairgeldy Kabyldin, informed on Wednesday in his report at the expanded session of the board of the Ministry of Energy and Mineral Resources of Kazakhstan, the agency reports. "Kazakhstan side has to meet its financial obligations on individual share of 208 billion KZT related to on Kashagan project," the chairman of KazMunaiGas noted. K. Kabyldin informed that, taking into account the anti-recessionary measures accepted by the state and coordination with the government of Kazakhstan of the budgetary and investment policy, KazMunaiGas has essentially reduced its planned volume of expenditures for 2009. As a result of the change of the business-plans of KazMunaiGas for 2009, the consolidated net cost in comparison with 2008 has been decreased by 842 billion KZT, or by 44 %, general and administrative expenditures have been reduced by 25 billion KZT (by 16 %).

Resourse: Kazakhstan Today

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