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Kazmunaygas official says Kazakh oil will never finish

April 3 2014, 16:13

Reserves of crude in the Kazakh soil will never run out, says Abat Nurseyyitov, general director of Kazmunaygas Exploration and Production JSC, according to

The high profile company official told that the national oil and gas entity will further ramp up crude production. Namely, KMG will be extracting over 12 million tons of crude every year.

"I don't want to listen to talks like 'oil will finish one day'. I don't believe them. There is enough oil for the future. Kashagan alone has reserves for years. Tengiz, Kashagan and the Eurasia Project are our future, Mr Nurseyyitov said.  

Currently, Kazmunaygas Exploration & Production is among the best three oil producers in Kazakhstan.

According to the company's experts, many other new fields can be found if current geologic research works continue at faster pace.


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