State-run KazMunaiGas, Kazakhstan's second-largest oil producer, said it would invest 1.5 trillion tenge ($9.9 billion) in exploration in the next 10 years as it aims to nearly double its reserves of crude oil and gas condensate.
Kazakhstan’s state oil and gas company KazMunaiGas (KMG) plans to spend more
than 557 billion tenge ($3.8 billion) on geological and exploration work
between 2012 and 2016, the company was reported as saying on Friday.
KazMunaiGas , Kazakhstan's state oil and gas company, said on Monday its net profit more than doubled to 397 billion tenge ($2.73 billion) in 2010 from 189 billion a year earlier, without giving a reason.
Kazakhstan's customs authorities recovered 21 billion tenge ($143 million)
last year from the consortium that runs the large Karachaganak natural gas
project, the customs committee said in a statement today.
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