KAZAKHSTAN UNVEILS FIRST BID ROUND

Kazakhstan, seeking to boost outside investment in its petroleum industry, has unveiled details of its first competitive exploration licensing round. The former Soviet republic, now a member of the Commonwealth of Independent States, is accepting bids for rights to explore for and develop hydrocarbons in three areas in the pre-Caspian depression of western Kazakhstan. Total combined hydrocarbon resources of the tracts are estimated at more than 35 tcf of natural gas and 4.56 billion bbl of oil

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