Kassym-Jomart Tokayev commissions to complete construction of Kenkiyak-Kumkol oil pipeline
The President highlighted the role of fuel and energy complex in Kazakhstan’s economy and pointed out the importance of further development of oil and gas sector. The Head of State assigned a number of certain tasks to the Government and local executive authorities, the press service of Akorda says.
First, Kassym-Jomart Tokayev raised the issue of further implementation of Kashagan, Tengiz and Karachaganak projects. In particular, the Head of State commissioned the Cabinet and contractor companies of the consortium to draft a road map on full-fledged development of Kashagan deposit in order to boost oil production.
Secondly, the President set a task to complete the construction of Kenkiyak-Kumkol oil pipeline to deliver oil from the deposits in western regions to other parts of the country. Besides, he expressed concern over possible reduction of oil supply to the domestic market.
«Aktobe and Kyzylorda regions are the main suppliers of oil to the domestic market. Taking this into account, we may face a risk of reduction of oil volumes processed at the domestic refineries. I commission the Government to actively work on this problem and submit propositions on its solution,» Tokayev said.
Third, development of petrochemical industry was named by the President as an important area of economic modernization. «Petrochemical industry has a high multiplicative effect on other sectors of economy. The share of consumption of hydrocarbons in the world is 34% while in Kazakhstan this figure is 0.2% only. The implementation of projects on polypropylene and polyethylene production could contribute to the annual GDP growth by 1.5% in average,» the Head of State said and noted good results in development of gas transmission networks.
Fifth, the President touched upon the issues of geological exploration in Kazakhstan. He commissioned the Government to develop a geological exploration program of Kazakhstan with the consideration of a long-term forecast of the global demand for mineral resources and submit it by March 1, 2020.
Sixth, according to Kasssym-Jomart Tokayev, oil-field service industry is one of the drivers of economic growth and diversification. «Development of oil-field service industry will give a considerable impulse to the strengthening of domestic SMEs, creation of jobs and localization of high value-added production units,» he added.
Another issue raised at the meeting was effective use of natural resources and environment protection. Kassym-Jomart Tokayev stressed the importance of application of up-to-date technologies, modernization of equipment, reduction of emissions and prevention of oil spills and gas leaks.
Minister of Energy Kanat Bozumbayev, Minister of Ecology, Geology and Natural Resources Magzum Mirzagaliyev, CEO of JSC Samruk-Kazyna Soveriegn Wealth Fund Akhmetzhan Yessimov, President of PJSC LUKOIL Vagit Alekperov as well as chief executives of Tengizchevroil, NCOC and Karachaganak Petroleum Operating companies presented reports at the meeting.
