Energy Minister briefs Kazakh President on situation in oil & gas sector

Head of State Nursultan Nazarbayev received Minister of Energy Vladimir Shkolnik in the Akorda presidential residence on Monday.

At the meeting Minister Shkolnik briefed the Kazakh President on the situation in oil and gas, electrical energy, environmental protection, nuclear and other sectors under the supervision of the ministry.

The sides also gave consideration to the measures assumed by the ministry and the Government to overcome crisis caused by low oil prices.

President Nazarbayev paid utmost attention to the necessity to implement promising projects in energy sphere, including the launch of Kashagan oil field, expansion of Tengiz field and the second phase of expansion of Karachaganak project.

"Given falling oil prices, all companies were forced to overhaul their budgets and reduce production costs," Minister Shkolnik said.

Source: inform.kz