AKIPRESS.COM - Kazakhstan might discover about 20 oil deposits under the depths of 7 - 15 km, Vice Minister of Enegry Magzum Mirzagaliyev said Wednesday on the sidelines of the oil and has conference in Almaty.
Mirzagaliyev said that Kazakhstan will face production decline in 15-20 years at Tengiz, Karachaganak and Kashagan oil fields, Novosti-Kazakhstan reports.
"Easy oil times are over," he noted the need for exploration at the depths of 7-15 km.
Mirzagaliyev also told about the Eurasia Project for the exploration of hydrocarbons at big depths with the production forecast for 100 million tons per year. Kazakhstan is introducing various investment incentives and opportunities for that.