K.Bozumbayev spoke about initiatives of ME RK by 2025

27 November, 2017 18:46

The volume of production of oil is planned to increase up to 107.3 million tons by 2025, and production of natural gas up to 77,3 billion cubic meters. The annual volume of oil refining will reach about 17 million tons to produce oil products corresponding to ecological standards. Minister of Energy of Kazakhstan Kanat Bosumbayev talked about these and other innitiatives at a press-conference in the Central Communications Service.

As the speaker noted, the successful implementation of the tasks set will allow to ensure, by 2025, the average annual growth rate of GVA of the fuel and energy complex by 4.1%. At the same time, taking into account the base figure of 2.4%. Initiatives are indicated in such sectors as oil and gas chemical, nuclear and uranium.

"The total investment for 2017-2025 will be over 17.5 trillion tenge, of which more than 97% will be provided through private funds. Thus, 14 trillion 524 billion tenge of private investments will be spent on the project "Oil and Gas Industry", the Minister of Energy of the Republic of Kazakhstan emphasized.

According to Kanat Bozumbayev, private funds will also be involved in the projects "Oil refining" and "Nuclear energy and industry". 2 trillion 530 billion tenge of private and 488 billion tenge of budgetary investments will be involved in the project "Neftegasohimia".

It should be noted that the Ministry of Energy within the project management is implementing 14 initiatives that will give impetus to the development of the oil and gas sector. The initiatives will be implemented within the framework of the new model of economic growth of the Third Modernization of the economy of Kazakhstan, reflected in the Address of Nursultan Nazarbayev to the people of Kazakhstan on January 31, 2017 for the oil and gas industry.

Kamilla Rashid

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