Kazakhstan expects oil exports up to 130 mm tpy by 2010

Jul 20, 1999 02:00 AM

Kazakhstan expects to raise oil exports to up to 130 mm tpy by 2010 following the completion of an international pipeline in two years. The Central Asian republic, which relies heavily on revenue from oil exports and was hit hard by a recent slump in world prices, plans to export some 11 mm tonnes of oil this year, industry officials said.
The country is participating in the international Caspian Pipeline Consortium, which upon completion in the end of 2001 will connect the Tengiz oil field in western Kazakhstan to ports on the Black Sea. Kazakhstan's state-owned petroleum company, KazTransOil, will also expand with drilling projects to begin this year in the country's share of the resource-rich Caspian shelf, which could lead to a sharp rise in exports within six years, company Vice President Kairgeldy Kabyldin said.
KazTransOil is also the sole operator of the Caspian pipeline in Kazakhstan, where it owns a 19 % stake in the project. Other stakes are held by Russia and Oman, as well as the petroleum companies Chevron, Mobil, Oryx, Agip, British Gas, LukArco, Russia-UK joint venture Rosneft-Shell Caspian Ventures and Kazakhstan Pipeline Ventures.

Source: AFP via Iinoil
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