Kazakhstan plans to export 60 million tons of oil in 2016

Almaty. February 19. Silkroadnews - In 2016 Kazakhstan plans to export 60 million tons of oil of 77 million tons planned for extraction, the information on the performance results of the Kazakhstani Ministry of Energy (ME) for 2015 and tasks for 2016 reports, KazTAG says.
“The first objective for 2016 is to keep the plans for the production (77 million tons), recycling (14.3 million tons) and exports (60 million tons) volumes,” - the document states.
The ME noted there are 285 contracts for the subsoil use registered in the republic at present, among them 207 are made for raw hydrocarbons, 55 – for the coal and 23 – on the uranium deposit.
In 2015 the total investment in the raw hydrocarbons exploration made 76 billion tenge, with the social contributions of 48 billion tenge.
“Including 8 contracts for hydrocarbon crude resources made in 2015 the investments in the exploration activities amounted to 5.1 billion tenge, with 6.6 billion tenge of the subscription bonuses amount and 211.2 million tenge of the social contributions. 4 contracts for the solid commercial minerals with total amount with 13 billion tenge (Kyzylorda region - 12.5 billion tenge, Karaganda - 318 million tenge) of the total investment in the geologic exploration were made at the end of 2015,” - the information points out.
The Ministry of Energy also informed that eight contracts on the hydrocarbon feedstock have been cancelled and ninety notices of contractual obligations violation have been registered since the beginning of 2015.