Support The Moscow Times!

Oil, Skolkovo: Business in Brief

Kazakhstan to Up Oil Output

Kazakhstan expects annual oil output to reach as high as 100 million tons after 2020 when the giant Kashagan oil field resumes pumping, a senior energy official said, compared with less than 82 million this year.

Kazakhstan, already the second-largest oil producer after Russia among the former Soviet states, aims to produce 90 million to 100 million tons of oil starting in the third decade of this century, Kazakh Deputy Energy Minister Magzum Mirzagaliyev told Reuters on the sidelines of an energy conference on Wednesday.

"We are talking about the period after 2020 when Kashagan's production stabilizes," he said.

The Kazakh government expects output to total 81.8 million tons this year and next. (Reuters)

Skolkovo to Host 'Tech Park Olympics' in 2016

Moscow's Skolkovo innovation center will host the 33rd annual IASP "tech park olympics" in 2016, news agency TASS reported on Wednesday.

The International Association of Science Parks (IASP) world conference typically brings in 1,000 delegates from tech parks, business incubators, and tech innovation zones annually, TASS reported.

"It is necessary for all Russian cities and tech parks to have international connections and global perspectives," Pekka Viljakainen, president of the Skolkovo Foundation, told the news agency.

Skolkovo, located southwest of central Moscow, won the right to host the event in a joint application with Moscow State University, tech park Strogino, and the Moscow Center for Innovative Development. (MT)

For the Record:

Russia's LUKoil is producing more than 320,000 barrels per day at its biggest foreign project, Iraqi West Qurna-2 field, Andrei Gaidamaka, the company's vice president, said Wednesday. (Reuters)

Read more