Kazakhstan, Astana, Oct. 26 /Trend, A.Maratov/
A new research center at the Kazakhstan Institute of Oil and Gas will be established in Kazakhstan, CEO of the Kazakh Institute of Oil and Gas JSC, Uzakbai Karabalin, told Trend on Wednesday.
"Building the center will begin in the first quarter of next year," said Karabalin.
According to him, work is already underway for the construction of the future center, which is scheduled to be completed by the end of this year. For these purposes, an area of seven hectares has been allocated near Almaty.
"The estimated project cost is five to six billion U.S. dollars. The construction is designed for three years. A laboratory, a training center for innovative teaching oil and gas industry specialists, lodging, conference hall, apartment complex, where scholars invited to work at the research center will reside, will be built," said Karabalin.
"Today, KazMunayGas National Company allocates substantial funds for research and development and innovation. It is about six billion tenge annually. Our institution is responsible for conducting serious research on the discovery and development of oil and gas fields," he said.