"Geological prospecting is now crucial. We are making use of only 100 out of the 500 oil wells," Mr. Alkhanov told journalists on Wednesday.
Revenue from the oil industry today makes up 70 to 80 percent of the Chechen budget, he said.
Chechnya is going to develop the oil industry, Mr. Alkhanov stressed. "Yes, there is a document for operation of Rosneft. But time does not stand still. Rosneft operation is not enough. We want to develop it in quality and in quantity," the Chechen president said.
He has proposed sending Chechen oilmen to work in other regions of Russia.
"I propose to the federal government that our oilmen go to work in the Tyumen region by the rotation method," Mr. Alkhanov said, noting that it was practiced in the times of the USSR.
As regards interaction with regions of the Russian Federation, he said that Chechnya today has very good contacts with Moscow, the Saratov and Kemerovo regions. Good contacts are developing with also Kazakhstan, Mr. Alkhanov said.
