ASTANA, Kazakhstan, August 29. Kazakhstan has joined the ranks of countries playing a key role in the global oil market, President of Kazakhstan Kassym-Jomart Tokayev said, TurkicWorld reports.
He spoke at a special meeting dedicated to the 125th anniversary of Kazakhstan's oil and gas industry.
"Oil and gas are strategic resources, the backbone of the national economy. This has become possible thanks to the hard and dedicated work of oil workers. Today, about 250,000 people work in this sphere. The industry itself is moving forward. Innovative technologies are introduced into production, and new standards of environmental safety are approved. In addition to the extraction of raw materials, Kazakhstan has established its processing. We produce the majority of fuels and oil products. Undoubtedly, a great merit in this belongs to the KazMunayGas national company. We have also created world-famous brands. The energy security of the country has been strengthened," he said.
The president also noted the contribution made to the development of the industry by the world's leading oil and gas corporations, such as Chevron, ExxonMobil, CNPC, Eni, Shell, LUKOIL, Total, and Sinopec.
"The development of Tengiz, Kashagan, Karachaganak, and the realization of the Caspian Pipeline Consortium project are vivid examples of mutually beneficial cooperation between the state and investors. Kazakhstan is tightly integrated into the global economy and attracts a large volume of investment thanks to an open and verified policy in this area," the president of Kazakhstan added.
Meanwhile, the volume of crude oil production in Kazakhstan amounted to 44.9 million tons from January through July 2024, which is 0.9 percent less compared to the same period last year (45.3 million tons).
