Oil and gas sector attracts investment of over KZT52.2tln in 25 yrs in Kazakhstan

NUR-SULTAN. KAZINFORM - Over four thousand deposits in Kazakhstan have been handed over for subsoil use, generate revenue for the State, and ensure employment, Kazinform correspondent reports.

«Of nearly KZT73trl attracted in Kazakhstan since 1996, over 70% or KZT52.2trl has been channeled into the oil and gas sector, and 27% or KZT19.5trl into the mining sector. The most investment was funneled into natural resources of priority such as oil, polymetals, steel, gold, iron, uranium, and coal. Funds invested in geological exploration stood at nearly KZT4trl,» said Talgat Satiyev, Chairman of the Committee of Geology of the Kazakh Ministry of Ecology, Geology, and Natural Resources.

As of today, Kazakhstan's balance reserve of oil stands at 4.4 billion tons, that of gas 2.3trl cubic meters, and condensate 416.2mln tons. Atyrau region holds 75% of oil, gas, and condensate reserves, and Mangistau region - 11%. 68% of the country's hydrocarbons fall at the three major fields: Tengiz, Kashagan, and Karachaganak.