September 8, 2008

Kazakstan Strives for Oil Output of 100 Million Tons Before 2015

Kazakstan strives for oil output of 100 million tons before 2015

ALMATY, Sept. 4 (Xinhua) -- Kazakhstan is striving to boost oil output to 100 million tons by the end of 2015 and planning to export most of its oil products, Minister of Energy and Mines Resources Sauat Mynbayev said Thursday.

When attending the Third Euro-Asia Energy Forum held at Alma Ata, Mynbayev said Kazakhstan exploited 67 million tons of crude and condensate oil in 2007, which rose 4 percent from last year. 60 million oil products have been sold overseas, the Kazakh Telegraph Agency reported.

The minister expected the country's oil output to grow to 70 million tons next year.

Mynbayev also added the proven natural gas reserve is about 3.3 trillion cubic meters in Kazakhstan, which is one of the most promising energy. The potential reserve is between 6 trillion to 8 trillion cubic meters, which amounts to 1.7 percent of the global's total.

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