Almaty will be hosting the 2015 Kazakhstan Oil and Gas Summit on Feb.23-24 dedicated to developments and opportunities arising across all aspects of the country’s oil and gas sector.
The two-day event, consisting of a conference and workshops on current and future oil and gas projects across the state, will gather key stakeholders in the field to discuss the latest industry updates, network with other oil and gas experts and map out the future prospects for the region’s upstream, midstream and downstream industries.
The forum reflects the challenges and prospects of one of the most prosperous sectors of Kazakhstan’s economy. Currently, the state ranks in the top 20 oil producing countries in the world, as Kazakhstan annually produces over 400 billion cubic feet of natural gas. Sixty-two percent of the territory is occupied by oil and gas areas, while oil fields can be found in six of the 14 provinces. There are 172 oil fields, of which more than 80 are under development. In 2014,Kazakhstan had proven reserves of 85 trillion cubic feet of natural gas.
At the summit, speakers will elaborate on analyses of the latest political, economic and industrial developments and the challenge of attaining sustainable growth, modernisation of the refinery processes as well as Kazakhstan’s role in global energy markets. They will also discuss individual projects implemented in the field and the prospects of developing new partnerships, for instance creating new Caspian-China oil supply routes.
The summit’s agenda is especially relevant amid the harsh challenges faced by Kazakhstan’s oil and gas industry in 2014 with the falling world oil prices, suspended launch of the Kashagan field and freezing the majority of the exploration projects at sea and on land due to the fluctuation of currency exchange rates. However, oil production in the state has not decreased.
“The volume of oil production in 2015 is expected to amount to 81.8 million tonnes, according to the Ministry of Energy estimations, followed by an increase to 96 million tonnes in 2019,” said Minister of National Economy Yerbolat Dossayev at the presentation of Kazakhstan’s socio-economic development for 2015-2019. During the period of 2015-2018, $500 million will be invested in major government programmes for the exploration of deep horizons in the Caspian Basin aimed at doubling Kazakhstan’s oil potential. Furthermore, $300 million will be invested in extensive modernisation programmes for the nation’s oil and gas industry until 2018.
Confirmed speakers at the conference include Daniyar Tiyessov, General Director of KazMunayGas Refinery and Marketing; Sam Barrows, Director of Marketing and Business Development, MAX PETROLEUM; Sun Xingyun, CEO, MangistauMunayGas; Kairat Kutkhozhin, Deputy Director of Surface Facilities Department, KazMunayTeniz; Baig Ali, Chief Engineer of Civil Projects, OGDCL Pakistan; Larrissa Shestoperova, Director of the Geology Department, Kazakh Petroleum Institute of Scientific Research and Geological Survey (KAZNIGRI)and many others.
The organiser of the event is Oliver Kinross, an organisation providing training, business intelligence and networking opportunities.