Kazakhstan to raise oil output up to 75 mln tons in 2009
ALMATY. October 6. KAZINFORM /Daniyar Sikhimbayev/ This year Kazakhstan expects 5 mln tons growth in oil production compared to 2008. Vice Minister of Energy and Mineral Resources Lyazzat Kiinov has said it at the opening of KIOGE 2009 oil and gas exhibition in Almaty. According to Kiinov, oil production in Kazakhstan grows by 2-3 mln tons every year. "Last year we produced 70 mln tons of oil. In 2009 we plan to raise this figure up to 75 mln. This is a good index since the oil prices dropped but due to increased volumes a part of these losses will be compensated", he said. Alongside, as the Vice Minister noted old deposits face decline in production due to lack of technologies. In this case growth of oil output is reached owing to new deposits - Tengiz, Karachaganak and others. The exhibition which will last till Oct 9 has gathered 520 companies from 30 countries of the world. Among them are KazMunaiGaz NC JSC, Gazprom, Chevron and others.