BAKU (KazInform) – Kazakh Energy Ministry plans to hold tender to provide the rights of exploration and use of subsoil resources on oil sites, Energy Minister Vladimir Shkolnik said in an interview with The Business Year journal.

Vladimir Shkolnik

Kazakhstan pays special attention to geological exploration and the attracting of new investment from foreign engineering companies and technological enterprises for geological exploration, according to the minister.

The Energy Ministry is conducting several projects for the development of geological examination, Shkolnik said. “On the direction of the President of the Republic of Kazakhstan, the Ministry is carrying out Project Eurasia, the main purpose of which is the exploration of the deep geological structure of the Pricaspian basin with the aim of discovering raw hydrocarbons”, Shkolnik said. The project will facilitate work by an international consortium consisting of members of large petrol companies interested in the program, Kazinform refers to trend.az.

Earlier a tender was issued for the right to explore and use subsoil resources on two sites in the Kizilordinskiy and Atyrauskiy regions, which cover a combined area of 5,472 square kilometers.

The final amount of the tender came to 4.51 bln tenge ($24.4 mln), of which the amount of social deductions is 360 mln tenge.