Nazarbayev suggests setting up a geological exploration agency

ASTANA. KAZINFORM - President of Kazakhstan has suggested today setting up a special agency responsible for geological exploration sector of the country.
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According to N. Nazarbayev, oil and gas production technology used in Kazakhstan is outdated. "The index of the so-called recovery efficiency in the world makes 50% and Kazakhstan still has only 30-35%. Our goal is to add 10% by 2020. It may sound very ambitious, but it is achievable," the Kazakh President said at the Government's session.

In this context, the Head of State instructed the Cabinet to draw up a draft program aimed at the development of domestic geological sector. The Kazakh President also urged Minister of Oil and Gas Uzakbai Karabalin to help create a special agency for that purpose.

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