The bids for geological exploration of 105 perspective sections are planned to be invited in Kazakhstan in 2014, Aset Isekeshev, Kazakhstan Minister of Industry and New Technologies, said on Thursday.
He added that from 2000 to 2013 investments worth 234 billion tenge were attracted into the geological exploration and growth of priority natural resources constituted 30% during the past four years.
“The state budget will allocate 161 billion tenge to fund the program of development of the mineral resources from 2015 to 2019,” Minister continued.
He said geological study of the regions has been intensified. “Geological exploration and research works are carried out on the area of over 130,000 sq.m. in Zheskazgan region by means of geochemical mapping, 14 structures will be studied and from 2012 to 2014 the funding will total about 1 billion tenge and from 2014 to 2016 – 1.6 billion tenge,” Isekeshev specified.
In addition, 25 billion tenge will be allocated for socio-economic development of Zheskazgan, Satpayev and Ulytau districts in Karaganda region and from 2014 to 2016 Kazakhmys corporation will allocate additional 5 billion tenge.
“The geological exploration will be carried out in Baikonur till the end of this year, 306 wells with total volume of over 17,000 linear meters were drilled last year,” Isekeshev concluded reported http://newskaz.ru.--0--
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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