Kazakhstan wants to team up with China to study the country’s shale oil potential as part of the Silk Road Economic Belt program, its First Deputy Energy Minister Uzakbai Karabalin told an energy conference yesterday, and would also like to work with its eastern neighbour to look at ways of increasing its oil recovery ratio.
“The President of Kazakhstan has set [us] the task of increasing the oil recovery ratio by between 5% and 7%,” he said. “We are hoping for constructive cooperation …..in this area.” The authorities in Astana have also suggested to their counterparts in Beijing that hey should relocate some of their oil and gas equipment production to Kazakhstan. A new production facility being planned for Aktau on the coast of the Caspian Sea.
Kazakhstan looks to team up with China in shale exploration
Kazakhstan Energy Minister Uzakbai Karabalin
Source: Times of Central Asia