News 2014
February, 2014Ministry Of Oil and Gas
The Ministry of Oil and Gas of the Republic of Kazakhstan has identified three basic scenarios: "Big oil", "economy" and "pragmatic". The Minister of Oil and Gas Uzakbai Karabalin stated: "This happened due to a variety of reasons.
First, the forecasts of all the leading expert organizations in the world are talking about maintaining a long-term lead role of oil and gas in the energy mix. However, according to the data of International Energy Agency and BP analysts, world oil demands to increase by 2035 from the current position as four billion to five billion tons a year.
Considering the above mentioned, over the future three decades, according to the most modest estimate, the Brent crude oil price will increase to 130-160 dollars per barrel”. According to him, the best one is the pragmatic" scenario, focused on dynamic, but consistent increase of production to 100 million tons in 2020, up to 110-115 million tons by 2030 and stabilization in 2040-2050 at the level of 110 million tons.