Kazakhstan: Oil production at Kashagan reaches record high level

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NUR-SULTAN (TCA) — At the Government meeting on June 11, Kazakh Minister of Energy Kanat Bozumbayev reported on the development of the country’s oil and gas industry in January-May 2019, the official website of the Prime Minister of Kazakhstan reported.

According to the Ministry of Energy, oil and gas condensate production in Kazakhstan amounted to 36.5 million tons, which is 101% of the plan for the first five months of 2019 or 96.8% over the same period in 2018. Oil production within three major oil projects amounted to 21.7 million tons, including at Kashagan — more than 4 million tons, Tengiz — 12.48 million tons, and Karachaganak — about 5 million tons.

“The first major overhaul was successfully completed at Kashagan. Today, Kashagan production volume reached a record level of 400 thousand barrels per day. In general, the annual oil production plan will be implemented,” said Bozumbayev.

Oil refining for the five months amounted to 6.7 million tons, with an increase over the same period of 2018 by more than 5%.

Production of the main types of petroleum products amounted to more than 5 million tons, an increase of 14% over the same period last year. In general, the situation in the oil products market is stable, there is no shortage in the fuel market.

“With regard to the export of Kazakhstani high-octane gasoline, today the legal framework has been fully prepared. In the near future, the order of the Ministry of National Economy to reduce the export customs duty rate on light types of petroleum products is expected. Gasoline exports are scheduled for the second half of June 2019,” said Bozumbayev.

Sergey Kwan

TCA