Mangystau region to produce 95 mln tons of oil per annum in 10 years - K. Kusherbayev

16:41, 4 May 2011

ASTANA. May 4. KAZINFORM /Muratbek Makulbekov/ In the nearest ten years oil output in Mangystau region will reach 95 mln tons per annum. Governor of the region Krymbek Kusherbayev said it taking the floor at the panel session "Regional development" of the 4th Astana Economic Forum being held at the capital's Independence Palace today.

"Our region shares borders with five Caspian states. Transport corridors TRASECA and North-South connecting Eastern Europe with Central Asia and Northern Europe with the Gulf States run through its territory. The International Sea Port Aktau which is the western gate of Kazakhstan plays a key role in ensuring accession of the country to the world markets", K. Kusherbayev said.

According to him, more than 500 thousand people are living in Mangystau region to date. Per capita gross regional product makes USD 17 thousand. The average wage in the region is USD 1,000. 16% of the total industrial output of Kazakhstan is produced here. Besides, the region extracts 30% of crude oil and gas condensate of the total republican volume.

"We expect twofold rise in oil production of Kazakhstan in the nearest 10 years. We forecast that due to development of the Caspian shelf oil output will make 130 mln - 150 mln tons per year within this period. In Mangystau region this figure is to make not less than 95 mln tons that is compared with some Gulf States' indices", K. Kusherbayev noted.

Oil and Gas News Regions Astana Economic Forum Astana