OREANDA-NEWS. December 22, 2014. Oil reserve may rise to 60 billion tons in Kazakhstan, First Vice Minister of Energy of Kazakhstan Uzakbai Karabalin said at meeting with the refiners in Atyrau.

"In 2015 we are starting the project "Eurasia" on the geological study of the Caspian Depression, during which it drilling of ultradeep wells is scheduled to start. Many oil fields have already been discovered in the Caspian Depression, including such as Tengiz, Karachaganak and others. But there are huge amounts of sediment where hydrocarbons may lie. We expect that oil reserve in Kazakhstan may rise to 60 billion tons in case of success. These operations will be carried out jointly with the Russian Federation. We will sign an agreement with Russia in the near future," U. Karabalin said.

Meeting with the staff of the Atyrau Oil Refinery was held in the framework of the republican information group meetings on explanation of the main provisions of the President's Address to the Nation "Nurly Zhol - Path to the Future", led by the First Vice Minister of Energy of the Republic of Kazakhstan Uzakbai Karabalin.