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Turkey interested in development of Kazakhstani oilfields

For the 3rd year Kazakhstan attracts record volumes of investments from Turkey

Turkey interested in development of Kazakhstani oilfields

Ankara, May 13 - Neftegaz.RU. Turkey is interested in the development of Kazakhstani oilfields, Energy Minister Bolat Akchulakov said.
As part of the visit to Turkey, the Kazakh Minister met with his counterpart.

The parties surveyed the progress of construction of the atomic powerplant, debated oil delivery issues and participation of Turkish companies in the projects as investors.

Akchulakov reminded that since 2010 the countries have not developed any joint projects in the oil sector, this issue was also debated.
The Minister added that Turkey is interested not only in oil delivery but also in the development of oilfields as it tries to diversify its imports.
Currently, Turkey consumes some 1 mln barrels of oil a day.

Kazakhstan’s data put trade with Turkey, its 5th largest trade partner, at $4.1 billion in 2021.
Turkey and Kazakhstan aim to gradually increase annual bilateral trade up to $10 billion over a 7 to 8 year period.

Kazakhstan is the largest oil producer in Central Asia, with the 12th-highest proven crude oil reserves in the world.
About 70% of the Kazakhstani oil potential is located in the west of the country, particularly in the Caspian Sea (Kashagan).

Oil and gas are among Kazakhstan’s key exports.
According to Worldometers data, Kazakhstan ranked 18th out of 127 countries in terms of daily oil production in 2022.

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