Oil production in Kazakhstan has increased fourfold and will soon reach 100 million tons per year, said President Kassym-Jomart Tokayev, APA-Economics, citing the official website of the President of Kazakhstan.
"During the years of independence, we fully understood the full value of black gold. Today, this sector is developing at a dynamic pace. Kazakhstan occupies one of the leading positions in the world oil market; oil production in the country has increased fourfold and will soon reach 100 million tons per year," the head of state noted.
Kassym-Jomart Tokayev emphasized that, in his opinion, hydrocarbons will still play a key role in both world energy and Kazakhstan's energy.
Note that Kazakhstan produces an average of 90-93 million tons of oil per year. In July, the country's Energy Minister Erlan Akkenzhenov said that oil production is expected to reach 96.2 million tons by the end of the current year.
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