â 5 (49), 2011 - KazEnergy

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actualLandof OpportunitiesKazakhstan attracts energy investmentsThe current turbulence in financial markets makes international investors lookfor the places, where a decent profit is not undermined by political risks andcommercial drops. One of such places is giant Kazakhstan, lying between theindustrialized West and the rapidly developing East. Its mineral wealth and ambitioustechnological development has created huge demand for investment toprofit from a combination of these two foundations of economic growth.by Igor Ivakhnenko52 № 4 (48) <strong>2011</strong>
On the Rise. Looking globally, we can see that it isalready 20 years that this state has been on a stableoil rise, increased its share in the global energy tradedue to significant growth of production and the establishmentof a branched export pipeline system.Now the country is at the cusp of entering into thetop ten oil producers, by 2020 it is going to be amongthem; and in a long term perspective it will be oneof the “great seven” states with the “black gold” reservesup to the end of the current century.At the same time, Astana is planning to make 25times increase in the current production of polymersin the mid-term, and threefold increase in the productionof own oil and gas products by the end ofthe decade. Such growth indicators are a part of theIndustrial and innovative development strategy ofKazakhstan accepted in 2010 (at the end of the firstglobal crisis wave), with one of the long term purposesthe affiliation with the 50 most competitive worldeconomies, due to rapid industrial growth composing7% annually.To achieve the set goals, Kazakhstan oil industryneeds foreign investments inflow approximatelyequal to that obtained during the previous 20 years ofindependence, which is about $120 billion. However,it is more obvious that the capital sources structurewill significantly change. Before, west companieswere recognized as the main investment partners ofKazakhstan, now Astana is actively diversifying theflow of foreign investments through eastern companies.Eastern Wave. Asian investors are actively participatingin the Kazakhstan oil market. For example,the Indian ONGC Videsh Limited (OVL) acquired25% share in Satpayev project from the nationalKazMunayGas (KMG) for $80 million. The forecastedextracted resources of this site make up 253 milliontons of crude oil equivalent (o.e.), which representsan average scope for Kazakhstani sector of the CaspianSea (KSCS).Another group of the Indian companies, including theearlier mentioned OVL, as well as Gail and IndianOil Corporation (IOC), may enter the North Caspianproject for $6 billion. This project provides for the developmentof a unique in terms of the reserves of theKAZENERGY53
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