Tokayev stresses importance of full-scale transfer of South Korean technologies in oil and gas sector
Kazakh leader Kassym-Jomart Tokayev urged the Republic of Korea to step up partnership in subsoil use while addressing the Kazakhstan-Korea Business Forum underway in Astana, Kazinfrom News Agency correspondent reports.
"Let me provide our vision of the most promising areas of cooperation. First, enhanced cooperation in the strategic spheres of our economies, which are subsoil use and industry," said Tokayev.
The Kazakh leader stressed that Kazakhstan needs a full-scale transfer of South Korean technologies as well as establishment of production of modern equipment and spare parts in the oil and gas sector.
"This is particularly important taking into account an expansion of our major oil and gas fields such as Tengiz, Kashagan and Karachaganak. Conducting large-scale geological works with future development of oil and gas fields presents new opportunities. Critical raw material extraction and processing based on the pragmatic formula – investments and technologies in exchange for raw materials is a very promising direction," said the Kazakh President.
To note, upon the invitation of Kassym-Jomart Tokayev, President of South Korea Yoon Suk Yeol is paying a state visit to Kazakhstan on June 11-13, 2024. Earlier, the two heads of state held negotiations.
