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Accelerated technological modernization of the economy will significantly improve the efficiency of Kazakhstan's energy sector

21 August 2017, 15:45
Astana

Technological modernization of the economy will improve the efficiency of the energy sector. The Minister of Energy K. Bozumbayev said this during the briefing in the press center of the Government on the theme “Implementation of the first priority “Accelerated technological modernization of the economy” within the Address of the Head of State “Third modernization of Kazakhstan: Global Competitiveness”.

Kanat Bozumbayev said that the Ministry of Energy of the Republic of Kazakhstan was carrying out systematic work on accelerated technological modernization, announced by the Head of State in the Address to the people. Thus, within the framework of the expansion of the mineral resource base, a number of new approaches to regulating hydrocarbon raw materials issues have been developed.

For example, the types of contracts have been optimized, the terms of their concluding for subsoil use have been shortened, the procedures have been simplified and administrative barriers have been eliminated. In order to increase the transparency and predictability of the subsoil use area, the transition to the international system of reporting standards for raw material stocks is carried out.

To solve the task of deepening the complex processing of raw materials in the second half of the year, the modernization projects for the Atyrau refinery and the Pavlodar Oil Chemistry Refinery are being completed. Next year - Shymkent refinery modernization project will be completed.

After modernization of oil refineries, the volume of oil refining will increase from 14.5 to 17.5 million tons. Production of light oil products - gasoline, diesel fuel, jet fuel will increase. It is expected to fully ensure needs of the internal market with domestic petroleum products and exclude import-dependence on fuel and lubricants.

In the model of accelerated technological modernization of the economy, a number of initiatives are being implemented for the FEC project. For example, in the oil and gas industry, work is being carried out to increase oil recovery in the fields and intensify geological exploration, including marine projects. This will ensure the growth of oil production by 2025 to 107.3 million tons and gas production to 77.3 billion cubic meters.

In oil refining projects are being implemented to increase energy efficiency, transition to a 3-year inter-repair period at the refinery and measures to increase the attractiveness of oil supplies to the domestic market. This will increase the output of light oil products and bring their quality to environmental standards K4 and K5.

In the oil and gas chemistry are implemented measures to build 4 oil and gas chemical plants with a total capacity of 2.3 million tons per year of high added value products.

In the nuclear power industry, projects will be implemented to build a plant for the production of fuel assemblies, the introduction of IT technologies in uranium mining enterprises, and the strengthening of prospecting for replenishment of the uranium mineral resource base.

The total investment volume for the initiatives of the Fuel and Energy Sector for 2017-2025 should be over 19 trillion tenge, of which more than 97% will be provided through private funds.