Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Petrokazakhstan Inc. -- Ignore unavailable to you. Want to Upgrade?

To: cooliemon who wrote (1711)	7/12/2001 12:14:56 PM
From: cooliemon	Respond to of 2357

forecaster: expanding on what i said about kazakh companies and oil, read the last paragraph of this article from the times of central asia....with only 18 of 200 blocks being developed, there is a lot oil to be pumped by kazakh companies.... cooliebayev N.Nazarbayev Urges Country`s Business Community to Invest Money in Oil Projects Kazakhstan, July 12, 2001 [ 20:21 ] , Transcaspian Project ASTANA. President Nursultan Nazarbayev has urged Kazakhstan's business community to invest money in big Kazakh projects, including projects to develop large oil fields. Initially, "we could not avoid handing over major oil and gas fields to foreign companies," Nazarbayev said at a meeting with Kazakh business figures. According to the Kazakh president, the U.S.'s Chevron alone has invested $4.7 billion in the country's economy for four years and will put in another $4 billion in within the next four years to produce 19 million tons a year. The company is paying 80% of its revenue to the Kazakh state, he said. Tengizchevroil, a joint venture in which Chevron owns half the capital, plans to produce 12 million tonnes of oil this year compared to 10.5 million last year, Nazarbayev said. Currently, foreign companies are developing only 18 of the 200 blocks on the Caspian Sea shelf, Nazarbayev noted. "The other fields are waiting to be developed. If you do not consolidate and form corporations, you will be unable to cope with this amount." "We will be moving further ahead toward liberalization and the simplification of the system of registration and licensing," the president stressed.