25 percent of Kazakhstan's oil extracted by Chinese companies
SANYA. April 6. KAZINFORM - 25 percent of Kazakhstan's oil is extracted by the Chinese companies. This has been announced by President Nursultan Nazarbayev after the enlarged meeting with the President of China Xi Jinping.
The Head of State in his speech congratulated Mr. Xi Jinping on his election as President of China and wished successful realization of the declared economic and political program "Dream of China".
"We, as close neighbors and friends of the People's Republic of China, are always ready to support and assist in every way", said Nursultan Nazarbayev.
In addition, the President of Kazakhstan said that in 20 years since the establishment of diplomatic relations between the two countries had come a long way, the agreement on strategic cooperation had been signed. According to the President, the trade turnover between Kazakhstan and China over the years has reached $ 25 billion. By 2015, this figure, according to the agreement, will reach $ 40 billion.
Nazarbayev said that the main area of cooperation to date is energy. China produces 25 percent of Kazakh oil. Over the previous years there was built a gas pipeline through Kazakhstan for up to 40 billion cubic meters of gas. In the past year, the pipeline, built at the initiative of the President, pumped about 10 million tons of oil. Currently there is ongoing discussion of the pipeline expansion.