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Sovereign Wealth Funds Briefing - Categorized | Investment

KazMunaiGas to invest $4.5 bln into geological exploration in 2014-2019

Posted on 30 December 2013

KazMunaiGas National Oil and Gas Company plans to invest a total of $4.5 billion into geological exploration in 2014-2019, Tengrinews.kz reports, citing Samruk-Kazyna Sovereign Wealth Fund Managing Director Malik Salimgiriyev.
According to the Company’s Strategy, by 2022 the Company’s proven recoverable reserves of oil and condensed gas should make up 1.413 billion tons as compared to 789.6 million tons as of the end of 2013. To this end, in the following 5 years a total of about $4.5 billion will be invested into geological exploration both on land and in offshore zones, Mr. Salimgiriyev said………………………………………..Full Article: Source


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