Azernews.Az

By Aynur Jafarova

Geological exploration works in Kazakhstan may lead to a great discovery in the sphere of raw materials, Kazakh Deputy Minister of Industry and New Technologies Nurlan Sauranbayev said on February 4.

"That is the conclusion of McKinsey & Company that if exploration is launched in Kazakhstan in the coming years, then at least 15 large companies such as Kazakhmys and ENRC will have considerable work in the country for many years," he said at a press conference in Astana.

Kazakhmys and ENRC are the largest Kazakh mining companies in the field of exploration of raw materials.

Sauranbayev noted the matter rests not only in the polymetallic ore deposits, but also the oil and gas industry.

"The Geology Committee together with KazMunaiGas specialists has completed the first stage of operations to examine the sedimentary basins," he said. "I can say that a great outcome is expected in this area."

Kazakhstan, one of the five Central Asian countries, is rich with hydrocarbon reserves. The county's largest hydrocarbon fields are Kashagan, Tengiz, and Karachaganak.

The oil production in Kazakhstan amounted to 81.7 million tons in 2013 which is 3.2 percent more than 2012. The forecasts show after 2020 around two million barrels of oil will be produced in Kazakhstan per day.

Kazakhstan plans to produce 83 million tons of oil, 41 billion cubic meters of gas, as well as to process 14.7 million tons of oil in 2014.

Earlier Kazakh Oil and Gas Minister Uzakbai Karabalin said the country's discovered and existing resources are big enough to supply it with oil and gas in the coming 40-50 years.