Kazakhstan has enough oil and gas for 50 years

Kazakh Minister for Oil and Gas Uzakbay Karabalin said at the 15th session of the KAZENERGY Council that Kazakhstan had enough oil and gas reserves for 40-50 years, Trend reports.

Geological explorations at the Eurasia Cavity at the Caspian Sea provoked interest of oil companies and countries. A tender for three geological exploratory blocks was announced. A tender will be announced for 8-10 blocks this year to find new reserves.

The Kazakh Geological Committee plans to study shale gas extraction.