Ernst & Young: Kazakh oil and gas industry prepares to expansion to world markets

The company Ernst & Young (EY) has published a report, in which it has estimated the development perspectives of the oil and gas market in Asian countries in the near future. The main theme of the research is the overcoming of obstacles of national companies towards globalization.

The report notes that in recent years national oil companies (NOC) in Asian countries have been very active on foreign markets in search of opportunities to buy as extraction companies, as stocks of raw materials in order to ensure supply sources. The vast majority of transactions, made by the NOC's, are investments in foreign markets. This is over 65% of the total number of deals with NOC participation and almost 78% of the total declared value of the deals, concluded in 2011. This trend toward globalization continued in 2012: the acquisition of international assets made up 76% of all purchases and 93% of the total value of NOC transactions.