Oil production to be increased in Atyrau rgn

NUR-SULTAN, June 18 (KAZINFORM) – Oil production is to be increased by 28% to 60 million tons in Atyrau region by 2025, Kazinform correspondent reports. According to Atyrau region’s Governor Makhambet Dosmukhambetov, 198 measures to the tune of KZT9.5trl are set to be implemented in the region in the next five years as part of the comprehensive plan. Private investments are to make up 90% of the funds (KZT8.7trl). KZT671bn of national budget funds and KZT108bn of local budget funds are to be provided to further develop the region’s economy and strengthen the social infrastructure. He noted that oil production will rise by 28% to 60 million tons in Atyrau region by 2025 once the Tengiz oilfield expansion project and comprehensive measures at the Kashagan oilfield are carried out. It is planned to carry out four new projects worth KZT6.1tln (KZT2.8trl until 2025) to develop the petrochemical industry at the NINT special economic zone. Those include the polypropylene production project by KPI due to be completed by the end of the next year, the planned projects for producing polyethylene and butadiene rubbers, construction of plants for producing methanol and olefin, terephthalic acid and polyethylene terephthalate.