PM: Kazakhstan ready to extend terms of contracts for large deposits

Astana, Kazakhstan, Jan. 27 By Daniar Mukhtarov - Trend: Kazakhstan is ready to extend the terms of contracts for the country's large deposits, Kazakh Prime Minister Serik Akhmetov said on Jan. 27 at an expanded board meeting of the Oil and Gas Ministry. "Kazakhstan can and is ready to consider the possibility of extending the terms of usage of large deposits and terms of contracts concluded with regard to them for the production of oil in large projects, given a number of key points, one of which is - increasing the proportion of Kazakh content," the prime minister said. Kazakhstan increased its oil and gas condensate production in 2013 to 81.8 million tons, according to Kazakh Oil and Gas Minister, Uzakbay Karabalin. He said that 14,296 million tons of oil was processed at three oil refineries of the country in 2013. Exports of crude oil and gas condensate in Kazakhstan amounted to 72.077 million tons last year. The capacity of the Atasu-Alashankou oil pipeline was increased up to 20 million tons in 2013 in line with the policy of diversification and expansion of Kazakhstan's capacities. Translated by E.A. Edited by C.N. Follow us on Twitter @TRENDNewsAgency