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Funds allocated out of the state budget to finance geological exploration could be brought up to $ 274 million, First Vice Minister of Industry and new technology Albert Rau said, Profinance.kz reports. “To ensure stable development, we need to inject about $ 274 million to finance geological exploration works (…) This year, a bit over $ 68.5 million has been allocated: this figure is a great step forward as compared to previous years”, he told journalists in Astana today. Mr. Rau also informed that the Government is considering establishing a national geological exploration company within Samruk Kazyna Sovereign Wealth Fund. “We plan to establish a company this year so that (…) it could deal with certain types of exploration works as early as next year”, he said. According to him, the to-be company would be created on the basis of already available state-run assets. A special unit within the company would deal with oil exploration.
Funds allocated out of the state budget to finance geological exploration could be brought up to $ 274 million, First Vice Minister of Industry and new technology Albert Rau said, Profinance.kz reports.
“To ensure stable development, we need to inject about $ 274 million to finance geological exploration works (…) This year, a bit over $ 68.5 million has been allocated: this figure is a great step forward as compared to previous years”, he told journalists in Astana today.
Mr. Rau also informed that the Government is considering establishing a national geological exploration company within Samruk Kazyna Sovereign Wealth Fund.
“We plan to establish a company this year so that (…) it could deal with certain types of exploration works as early as next year”, he said.
According to him, the to-be company would be created on the basis of already available state-run assets. A special unit within the company would deal with oil exploration.
