Four onshore oil and gas blocs were put up for sale in Kazakhstan, said Kazakhstan Minister of Oil and Gas Uzakbay Karabalin at the Kazakhstan-Canadian business-forum in the Canadian city of Calgary on Wednesday.
“Next year number of the fields put up for sale will be doubled,” Karabalin said.
He reminded that at present about 80 foreign companies have been operating in the oil and gas industry of Kazakhstan, including big and small companies.
“Both local and foreign companies could take part at the tender for development of new oil and gas blocs. The main condition for joining the projects in Kazakhstan is that the investors must bring new technologies with them,” Kazakhstan Minister said.—0—
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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