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. Last Updated: 07/27/2016

New Kazakhoil Plan

ALMATY, Kazakhstan -- Kazakhstan's government has approved a new business plan for state oil company Kazakhoil and will give it a minimum 25 percent stake in any new oil development project, the company president said Monday.

"The strategy was approved and decisions were made. One of those is that Kazakhoil must have no less than a 25 percent share in any new license given for development," Nurlan Kapparov said in an interview. "Some documents are required, but that is just a formality."

Kapparov said the Kazakh government had met last week to consider Kazakhoil's plan for development until 2003.