Russia's oil firm Gazprom Neft said it intends to invest some $250 million to develop its network of gas stations in Kazakhstan.
In making the announcement, Aymen Kasenov. the general director of Gazprom Neft-Kazakhstan, specified that $170 million of the Russian parent company's money would be put into the filling station network by 2017 and that by 2020, when the company should have some 110 filling stations, Gazprom Neft-Kazakhstan would have spent $250 million.
Gazprom Neft-Kazakhstan was formed in 2007 in a deal between Gazprom Neft and Kazakhstan's ARNA Petroleum.
In 2010, Gazprom Neft-Kazakhstan bought its first 20 gas stations and nine plots of land in Kazakhstan in the areas of Almaty, Astana, Taldy Korgan, Taraz, and Shymkent.
Based on reporting by Regnum and ITAR-TASS