Oil production in Kazakhstan is expected to reach 88.4 million tons by the end of 2024 – Head of the Ministry of Energy

Oil production in Kazakhstan is expected to reach 88.4 million tons by the end of 2024 – Head of the Ministry of Energy

25.11.2024 11:09:10 2462

The head of the Ministry of Energy of Kazakhstan Almasadam Satkaliyev made a report during the government hour on Monday in the Majilis of the parliament.
From the report:
"At the end of 10 months, the volume of oil production amounted to 73.5 million tons. The forecast of oil production for this year is 88.4 million tons.
The decrease in production compared to the plan is due to major repairs at large fields: Tengiz (in connection with the planned launch of the Future Expansion Project in May and August, repairs lasting a total of 50 days were carried out), and Kashagan (major repairs were carried out to replace the slug catcher with a full stop for 28 days).
In addition, the decrease in production was affected by unscheduled shutdowns at the Karachaganak field and restrictions on gas intake by the Orenburg Gas Processing Plant.
The reduction in production is also affected by the fulfillment of obligations under the OPEC+ Agreement.
Kazakhstan participates in the OPEC+ Agreement. For Kazakhstan, as well as for other countries, certain obligations have been established for 2024 (current 1.468 million barrels per day). The fulfillment of the terms of the Agreement is necessary to maintain stability in the global oil market."

Source : https://www.gov.kz/memleket/entities/energo/press/news/details/889306