K.Tokayev: Kazakhstan needs modern oilfield service cluster

Nur-Sultan, September 9 - Neftegaz.RU. Kazakh President Kassym-Jomart Tokayev participated in a ceremonial event dedicated to the celebration of the 120th anniversary of Kazakhstan’s oil and gas industry, Kazinform reported.

The President highlighted the role of fuel and energy complex in Kazakhstan’s economy and pointed out the importance of further development of oil and gas sector. In his speech, the President determined a number of priority objectives to be fulfilled by the oil workers.

«As per the strategic development plan, oil production in Kazakhstan will hit 100 mln tonnes and gas extraction will reach 77 bln cubic meters by 2025. For this purpose, a large-scale geological exploration program for 2021-2025 is being drafted now,» the Head of State noted.

The President expressed an opinion that Kazakhstan should become one of the leaders in oil products sale. In his words, this is one of the key tasks of the Government for the oncoming period.

«By 2025, the annual GDP growth is expected to hit 5%. This was outlined in my State-of-the-Nation Address. Oil and gas sector will play a huge role in achievement of this goal,» the Head of State added.

«Implementation of innovative technologies plays a great role in raising the efficiency of natural resource utilization. We have legally obliged the subsoil users to allocate 1% of their incomes for research and technologies,» Tokayev said.