Around KZT 700 billion to be invested in Caspian Sea shelf projects in next 5 years

According to KazMunaiGas's approved strategy, by 2022, the volume of proven reserves of oil and gas condensate is to make 1 413 billion tons on 789,6 million tons as of this yearend. "To perform the goal, we plan to invest 693,9 billion tenge over the next five years in exploration works, including 329 billion tenge in the Caspian Sea shelf projects and 364,9 billion tenge in onshore exploration", - Malik Salimgereev, managing director of JSC Samruk-Kazyna said at a briefing in Astana sharing on the company's development.

By 2022, KazMunaiGas is expected to boost the annual oil and gas condensate extraction to 35 million tons from the estimated 22,6 million tons as of the end of 2013 (an increase of 6% on 2012).

M.Salimgereev reminded that JSC KazTransOil, a subsidiary of the National Company, was the first Kazakh company, whose stocks are traded at the stock exchange due to its market attractiveness and financial stability.

This July, the company paid out dividends for 2012 worth 28,8 billion tenge, of which 2,9 billion tenge went to minority shareholders. The dividend yield was 10,34% of the placing price. He noted that in December 2013, ordinary shares of JSC KazTransOil cost more than 880 tenge, which is by 21% more of the placing price.