Efficiency of oil production being improved in Kazakhstan

BAKU. KAZINFORM - Kazakhstan plans to hold a large-scale analytical study on the issue of improving the efficiency of oil recovery on fields, the First Deputy Prime Minister of Kazakhstan Bakytzhan Sagintayev said June 1 at the parliamentary hearings "Problems and prospects of development of Kazakh oil and gas industry," said the message posted on the website of the Premier of Kazakhstan.

He said that incentives for subsoil users will be identified on the basis of this study.

"An analytical study on the state, plans and forecasts on implementation of projects to increase the efficiency of production on the oil fields of the country will be carried out before late 2015," he said. "The government plans concrete measures to stimulate subsoil users in order to improve the efficiency of oil recovery."

More than half of Kazakh deposits have already passed peak production and are mature, that is, they have a low level of oil extraction, according to first deputy prime minister.

Sagintayev said that Kazakh President Nursultan Nazarbayev ordered the government to implement technological policy which envisages increasing oil recovery coefficient by at least 5-7 percent (from the current level of 30 percent). In the world, this figure reaches 50 percent, he said, Kazinform refers to trend.az.