Kazakhstan in world news: ocbober to novenmber, 2007

Prepared by company Kazakhstan Newsline

Oil and gas

Outokumpu goes once more to Kazakhstan
Daily News Sunday (Canada) (October 16, 2007)

Outokumpu Technology of Finland has signed a contract with an affiliate of RUSSIAN COPPER to design and deliver a new copper-zinc concentrator for the Green Mountain 2 project…The contract is worth Ђ30 million (Cdn $42.75 million). Outokumpu will develop the basic design, supply all process equipment, and provide supervision services. The mill will handle 2.0 million tonnes of ore annually…This is Outokumpu’s second large concentrator delivered for Russian Copper. The Green Mountain 1 concentrator is currently being commissioned.

Petrolinvest expanding
Kazakhstan Oil Drilling Forbes (October 22, 2007)

The oil exploration firm Petrolinvest, controlled by Polish tycoon Ryszard Krauze, plans to have 10 production wells operating at its first field in Kazakhstan by the end of the year, its chief executive said…The company holds three concessions in Kazakhstan and announced last month it had struck oil at the Zubantam concession…CEO Pawel Gricuk told the Dziennik daily that three oil wells should be operating there within the next few days.
“By the year’s end, there should be 10, and at the outset, we expect to extract some 250 barrels of crude a day from each of them,” he said. He did not say how he expected production from the field to change after that…The Zubantam reserves are estimated at 250 million barrels.
Peterolinvest is now completing drilling in Dautskoye, another Kazakhstani oil field…”If we are successful, we should be able to assess the daily extraction level very quickly,” Gricuk added.

Energy 

Iran and Kazakhstan discuss Energy Cooperation
IRNA (October 18, 2007)

Iran and Kazakhstan have explored avenues for the expansion of cooperation in the energy sector…Iranian President Mahmud Ahmadinejad and his Kazakhstani counterpart Nursultan Nazarbayev inked five documents on bilateral cooperation on the sidelines of the Second Summit of Caspian Sea Littoral States…“We have reached good agreements with Kazakhstan on the development of ports and shipping lines, the reinforcement of cooperation in the energy, oil, and gas industries, the construction of refineries, joint investment, and the participation of the private sector in each other’s projects,” said Ahmadinejad after his meeting with Nazarbayev…The Kazakh president, for his part, welcomed Ahmadinejad’s proposal for holding regular meetings among littoral states,.

Finance

S&P: Kazakhstan-Based ATF Bank Upgraded
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