New Oil and Gas projects Worth Almost $15 billion to Be Launched in Kazakhstan

Over the next six years, Kazakhstan plans to implement investment projects in the petrochemical industry totaling $14.7 billion. These enterprises will provide jobs for thousands of Kazakhstanis. 

According to the Ministry of Energy of the Republic of Kazakhstan, the agency has developed a roadmap for developing the petrochemical industry. It is designed for a period up to 2030.

The new investment projects discussed in the program involve the creation of 16 thousand temporary and 3.5 thousand permanent jobs throughout the country.

According to the Ministry of Energy's plans, the volume of petrochemical production in Kazakhstan will increase more than fivefold by 2030 — from 357.8 thousand tons to 1.8 million tons.

The roadmap provides for implementing investment projects at all stages of petrochemical production — from the supply of raw materials to the release of finished products.

Additional infrastructure will be created on the territory of the SEZ "National Industrial Petrochemical Technopark," and new sales markets will be established throughout the country. Domestic consumption will be regulated, and the research base will be improved.

In early October, reports emerged that Kalamkas-Khazar Operating LLP, partly owned by the Russian Lukoil, began work on developing the Kalamkas-Sea and Khazar oil and gas fields in the Kazakhstan sector of the Caspian Sea.

Original Author: Nikita Drobny