Astana may tender out smaller oil fields this year

May 27, 1999 02:00 AM

Anvar Saidenov, the head of the Kazakh Investment Agency, has said that Astana might offer a number of "second- or third-tier" oil fields to foreign partners this year in the hope of boosting investment.He did not name any specific fields. Most of the country's major and promising hydrocarbon deposits have already been farmed out to outside investors, he remarked.

Saidenov also commented that Kazakhstan's campaign to attract $ 1 billion in foreign investment this year might run into difficulties because the country's most attractive assets have already been sold off. He further remarked that fuel prices had become an issue of concern with regard to oil companies and the domestic market.

Source: NewsBase
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