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.
