Turnover of oilfield services of Kazakhstan equals to $7bn per year - News | BNews

Turnover of oilfield services of Kazakhstan equals to $7bn per year

14 February, 09:35 193
Turnover of oilfield services of Kazakhstan equals to $7bn per year

There are more than a thousand companies with a total number of at least 170 thousand people in this field.

The annual turnover of oilfield services comprises on average 7 billion dollars per year. It was said by Director General of the Union of oilfield services companies o Kazakhstan Nurlan Zhumbagulov at a press conference in the CCS, BNews.kz correspondent reports.

"As a result of 2016, all the oilfield service industries paid taxes amounting to more than 280 billion tenge. The involvement of domestic business today is on average 50%. 50% are fulfilled by domestic oilfield services companies, half by foreign companies. The annual turnover of oilfield services in the subsoil use sector averages 7 billion dollars a year," he said.

According to him, in some types of segments, local business involvement is less than 20%. This is particularly the design and geophysical services.

"The market for design totaled more than 425 billion tenge by the end of 2017. According to geological and geophysical services, 135 billion tenge, the head of state signed a new subsoil code, which will enter into force in the summer, in which it was possible to consolidate the development of the domestic oilfield service. In particular, this is the establishment of obligations for contracting companies to be purchased in accordance with the rules, including for the contractors of major operators such as Kashagan, Tengiz, Karachaganak, etc. Another is the obligation to achieve at least 50% of Kazakhstan on the content of certain segments of the market," he explained.

According to the speaker, earlier the new investor was put before the requirements for the Kazakhstani content of 70-80%.

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