Kazakhstan oil reserves may rise to 60 billion tons

ATYRAU. KAZINFORM - Kazakhstan recoverable oil reserves may reach 60 billion tons, said the First Deputy Minister of Energy Uzakbai Karabalin at a meeting with Atyrau refiners.

"In 2015 we are launching "Eurasia" project on the geological study of the Peri-Caspian Depression, during which it is planned to start drilling ultradeep wells. A lot of oil deposits have been discovered in the Caspian Basin including Tengiz and Karachaganak. But there are huge amounts of sediment which may be hydrocarbons. Therefore, recoverable oil reserves in Kazakhstan may grow to 60 billion tons. These works will be carried out jointly with the Russian Federation, with which a reliable agreement will be signed soon," said U. Karabalin. The audience with the staff of the Atyrau refinery was held to explain the main provisions of the President's Address to the nation "Nurly Zhol - The path to the future".