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70 million tons of oil and gas condensate to be extracted in Kazakhstan in 2008 - Energy Ministry

Astana. September 5. Kazakhstan Today - Kazakhstan will extract 70 million tons of oil and gas condensate in 2008 according to the forecast of the Ministry of Energy and Mineral Resources of Kazakhstan. The Minister of Energy and Mineral Resources of Kazakhstan, Sauat Mynbayev, informed at the III Eurasian Energy Forum KazEnergy on Global challenges - energy solutions on Thursday, the agency reports. "In 2008 we expect extraction of oil and gas condensate at the level of 70 million tons. It makes 1.8 % of all world oil extraction," S. Mynbayev said. "Having such ratio of stocks and volumes of extraction we have good prospects of growth of extraction." Thus, the Minister of Energy reminded that in 2007 oil extraction and gas condensate made 67 million tons, having increased by 4 % in comparison with the last year. As for the domestic market, S. Mynbayev noted that more than 12 million tons of oil were delivered and refined in 2007 on domestic oil refining factory. Growth made 3.2 %. "We import 6.2 million tons from Russia and export of oil in 2007 made 60 million tons," the Energy Minister said. "By 2015 we will extract about 100 million tons of oil and the most part of which will be exported," Mynbayev explained. "Kazakhstan possesses 4.8 billion tons of proved stocks of oil that is about 3 % of all world stocks of oil and is one of ten leading countries by stocks of hydrocarbons," S. Mynbayev concluded.

Resourse: Kazakhstan Today

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