China and Kazakhstan on Wednesday vowed to deepen the
cooperation on energy and resources.
"Based on the current projects, China and Kazakhstan should
further boost the cooperation on energy, resources and other
fields," Chinese Vice Premier Zeng Peiyan said in a meeting with
Kazak Deputy Prime Minister and Economic Minister Aslan Musin in
Beijing on Wednesday.
Musin was invited to Beijing by China's CITIC Group, which
acquired the Kazakhstan oil assets of Canada's Nations Energy
Company Ltd. for US$1.91 billion at the end of 2006.
The acquisition allowed CITIC to develop the Karazhanbas oil and
gas field in Mangistau Oblast until 2020. It has proven reserves of
more than 340 million barrels of oil and produces more than 50,000
barrels a day.
A Sino-Kazakh oil pipeline, extending 962.2 km from Atasu in
Kazakhstan to the Alataw Pass, was also completed in 2005 at a cost
of US$700 million.
Zeng proposed the two countries create favorable conditions for
companies to expand investment.
Zeng said the two countries had deepened their cooperation on
politics, trade, energy and security.
As China and Kazakhstan were complementary in economy and
enjoyed good prospects for cooperation, Zeng said.
Musin said Kazakhstan would like to expand the substantive
cooperation with China and continue to develop bilateral ties.
(Xinhua News Agency June 7, 2007)