The Minister of Energy of the Republic of Kazakhstan, Almasadam Satkaliyev, held telephone talks with the Minister of Energy of the Kingdom of Saudi Arabia and Chairman of OPEC+, His Highness Prince Abdulaziz bin Salman, and Deputy Prime Minister of the Russian Federation and Co-Chairman of OPEC+, Alexander Novak, as well as with OPEC Secretary General Haitham Al-Ghaiis.
During the discussion, Almasadam Satkaliyev provided technical explanations regarding the increase in oil production in Kazakhstan in January. The Minister noted that this increase is associated with the start of oil production at the new third-generation plant at the Tengiz oil field as part of the Bolashak expansion project. The Energy Minister previously explained that the production increase is scheduled to begin in June-July 2025. Almasadam Satkaliyev also said that the production increase was the result of a temporary one-time test conducted after field maintenance and the commissioning of a new processing unit at the Tengiz field.
Satkaliyev confirmed that Kazakhstan remains fully committed to its obligations under the OPEC+ agreement, including the compensation mechanism. Kazakhstan will take further steps to fulfill its obligations, including reducing production at other oil fields to compensate for the January oversupply. The Minister also said that Kazakhstan will submit an updated compensation plan in January, taking into account both the overproduction and the volume of compensation that has not been fulfilled.
The Chairman and Co-Chairs reaffirmed the importance of fully fulfilling the obligations and compensation under the OPEC+ agreement and noted the role of voluntary cuts and efforts by several OPEC+ countries to maintain market stability.

Source : https://www.gov.kz/memleket/entities/energo/press/news/details/939130