Red Mountain Energy has opened a branch in Kazakhstan with a view to strengthening its position in the CIS.
The new office, located at 26a Abaya Street, Almaty, has opened in response to the rapid development of the energy sector in Kazakhstan, and the growth in oil and gas production. A team of highly skilled engineers from Red Mountain Energy are now based in Almaty, to expand the company’s business in that region.
Kazakhstan holds ninth place in the world in proven oil reserves, and each year is increasing its production. In 2011 it produced more than 80m tons of oil. According to Kazakhstan’s Vice Minister of Oil and Gas, by 2015 Kazakhstan will produce 95m tonnes of oil and gas condensate. By 2012 the country expects to produce 55.8bn m3 of unstripped gas – by 2015 explored hydrocarbon reserves will be 300m tonnes by 2015 and by 2020 oil production will have increased to 130m tonnes.
Red Mountain Energy has many years experience working throughout the CIS including Kazakhstan. In recent years the company has implemented a number of projects in Kazakhstan including the construction of the 120m nm3/year associated gas processing plant to produce LPG, dry stripped gas and stable gas condensate for the SOUTH-OIL company in the Kyzylordinskaya region, also to supply compressor stations as part of associated petroleum gas recovery projects for TOO Ken-Sary, TOO Meerbush, and for TOO KazakhTurkMunai in Mangistau.