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Asia Today ISSN 1861-4604 Thursday, October 18, 2018

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Kazakhstan’s oil production to increase

Expects to increase oil production in the coming years

Share on Facebook February 26, 2015, Reporter : Trend, Reader : 630

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Baku, Azerbaijan, Feb.25 By Elena Kosolapova – Trend: Kazakhstan expects to increase oil production in the coming years, Novosti-Kazakhstan reported with the reference to deputy minister of energy Uzakbai Karabalin.

"It should be noted that Kazakhstan, despite current decline in oil production, plans to increase production in the coming years. For example we expect to increase oil production to 86 million metric tons in 2017 and to 104 million metric tons in 2020," Karabalin said at a briefing on Feb. 25.

This increase will mainly result from growth in production at Tengiz field and the resumption of oil production at Kashagan offshore field, according to Karabalin.

Kazakhstan produced 80.845 million metric tons of oil, including gas condensate in 2014 (1.2 percent decrease compared to 2013).

"In 2015, oil production is expected to reach 80.5 million metric tons," Karabalin said.
Oil refining is forecasted at 14.3 million metric tons, the export of oil is expected to reach 60 million tons in 2015, he said.

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