Virtually no progress in exploration of gas fields in Kazakhstan – President

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There is virtually no progress in the exploration and development of gas fields in Kazakhstan, including that on the assets in the Caspian Sea, President of Kazakhstan Kassym-Jomart Tokayev said.

The president made the remark during a meeting dedicated to the issues of the development of the gas industry, Trend reports with reference to the Kazakh presidential press service.

The president stressed that the current model of development and management of the industry requires renewal.

“The main discovery of hydrocarbon raw materials during the years of independence accounted for oil fields,” President Tokayev added.

“Therefore, expansion of the gas resource base through geological exploration is a priority for the government and the Samruk-Kazyna JSC,” Tokayev stressed.

“Special attention must be also paid to increasing the investment attractiveness of the industry,” the president said. “Subsoil users are not interested in increasing gas production and building gas processing facilities within the current system.”

The government was instructed to develop approaches to attract investments in gas production.