Kyrgyzstan contains seven developed oil fields and two oil/gas. Kyrgyzneftgaz is the state-owned joint stock company responsible for production of oil and gas, and is presently looking for a foreign partner to introduce modern methods of oil and gas drilling. During the year 2000, Kyrgyzstan has had oilfield surveys by a team of specialists which, in November 2000, forecasted that Kyrgyzstan could become self-sufficient in oil by exploiting various reserves. In the Fergana Valley, there is an estimated reserve of over 700 million barrels, and the combined reserves of depressions at Chuy, Alay, Issyk-Kul, and At-Bashi could be as much as 1.5 to 2.2 billion barrels. These are not yet proved yet, however, and Kyrgyzstan's known proved crude oil reserves are presently only 40 million barrels
MHL Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
