KazMunaiGaz to increase oil output to 40mln tons a year by 2020
ASTANA. October 8. KAZINFORM. /Kanat Kulshmanov/ "KazMunaiGaz National Company is planning to increase production of oil to 40 million tons per year by 2020", Head of the Company K. Kabyldin has said at the Government's sitting in Astana today. "It is planned to increase oil production from today's 18.3 million tons per year to 40 million tons per year in 2020 through realization of new projects", Mr. Kabyldin noted. According to him, the company also plans to increase hydrocarbon production 2.6 times. "To date the company has in reserve 611 million tons of oil and 62 billion cubic meters of gas. In 2020 oil reserves will reach 1.6 trillion tons, gas - 500 billion cubic meters", he added.