Many oil producing companies working in Kazakhstan observed negative financial result in 2015, according to Vice Minister of Energy Asset Magauov.
As per an analysis, 36 companies out of 61 had a negative financial result, he noted.
As the Vice Minister noted, drill footage dropped from 2,500 running meters to 1,500 running meters in 2015. According to forecasts, further decline (by 50%) will be observed in well-drill footage.
“In 2014, we produced 85 million tons and in 2015 this figure made 79.5 million tons. Thus, we see stagnation in oil and gas industry today, since oil workers do not get a worthy profit and cannot even maintain the existing volumes”, he added. (Kazinform/Business World Magazine)