KMG allocates $5 billion for exploration
17:10, 21 October 2014
ASTANA. KAZINFORM - Over the next three years "KazMunayGas" JSC plans to spend about USD 5 billion on exploration, said Energy Minister Vladimir Shkolnik at a meeting in the Majilis.
"In the next 3 years KazMunayGas plans to spend about USD 5 billion on intensification of geological exploration. This will ensure the growth of the company's proved reserves from 823 million tons to 1.4 million tons in 2022," said Vladimir Shkolnik at the joint meeting of the Council on economic policy under "Nur Otan" faction in the Majilis. He noted that the increase in the production of strategic raw materials is the most important task for the country amid the competition on the world market.