• Kazakhstan, 010000, Astana, Sauran 3/1, "Sarmat" RC, suite 10

A. Kudaibergen: “Reduced oilfield industry staff of Kazakhstan went to the “Tengiz” project”

The workers of oilfield services industry in Kazakhstan, who were laid off, went into the project “Tengiz”, where now there is expansion, said Almas Kudaibergen, Chairman of the Board «Centrasia Group», Chairman of the Union of service companies of Kazakhstan at a press conference in the Central Communications Service, BNews.kz reports.

“Last year, when we were going to reduce 40 thousand employees of oilfield service companies within 3 years, we have seen that the price of oil declined. If you now look at the medium term, we see that oil prices could rise and companies are heavily cut the budget last year, that is actually reduced their capital expenditures, greatly put down operating costs, which greatly affected the oilfield service companies. If capital costs are reduced, they begin to produce less oil. Less oil – fewer sales. According to preliminary results of the first quarter  an increase of certain costs for certain types of work can be observed. This means that there will be more work for us, oilfield service companies, that  the people who may be reduced, or go on vacation, they will again be hired “, – said A.Kudaibergen.

According to him, the worst-case scenario, which was considered in the past year, was not implemented.

Read more at: https://regnum.ru/news/economy/2121680.html

Read More