Exploration of the largest shale and tight gas field
Sozak will begin in Kazakhstan. The field is located in the Kyzylorda region.
Plans envisage producing up to one trillion cubic meters of unconventional gas
there. More than $7.5 billion in foreign investment has been committed to the
new project. It will be implemented by the international Chinese energy company
Geo-Jade Petroleum Corporation. The gas is planned to be supplied to the
domestic market and used for the development of gas chemistry. The project is
designed until 2045 and is expected to generate up to $5 billion in budget
revenues. The investor has committed to sharing technologies, training local
personnel, and procuring goods and services in Kazakhstan. The Chinese company
has already invested more than $3 billion in major energy projects in
Kazakhstan.
«For Kazakhstan and for our company this is a very important energy project. It represents an entirely new direction for Kazakhstan, as it involves the production of hard-to-recover and unconventional gas. Such technologies are currently not available in Kazakhstan. Globally, only the U.S. and China are leaders in this field,» noted Sultangali Kinzhakulov, Chairman of the Management Board, Kazakh Invest National Company.
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