Kazakhstan’s Largest Fields Will Continue To Reduce Oil Production Until December 3
Kazakhstan’s largest fields – Tengiz, Karachaganak and Kashagan – will continue to reduce oil production until December 3, according to data from the Ministry of Energy of Kazakhstan.
According to data provided by Shyngys Ilyasov, Advisor to the Minister of Energy of Kazakhstan, oil production in Tengiz has decreased/will decrease: November 27 – by 43 thousand tons, November 28 – by 44 thousand tons, November 29 – by 54 thousand tons, November 30 – by 54 thousand tons, as of December 1 – 59 thousand tons, December 2 – 59 thousand tons, December 3 – 84 thousand tons. Standard oil production at the field is 84 thousand tons, as specified in the ministry’s materials.
At Kashagan, standard oil production is 53 thousand tons. Since November 28, oil production has decreased by 19 thousand tons; in the period from November 29 to December 3 inclusive, daily production is expected to decrease by 34 thousand tons daily.
At Karachaganak, with standard oil production of 35 thousand tons, the decrease since November 27 is 3.9 thousand tons, on November 28 – 2.8 thousand tons. During the period from November 29 to December 3 inclusive, daily oil production will be reduced by 8 thousand tons daily.
“For three large companies, with an average production of 172 thousand tons/day, production on November 28 will decrease to 106 thousand tons/day (by 30-40%), from November 29 to 76 thousand tons/day (56%) “, the ministry’s statement says.
According to the situational analytical center of the Ministry of Energy of Kazakhstan, oil and gas condensate production in Kazakhstan on November 27 amounted to 212.3 thousand tons, on November 26 – 214.5. For comparison, on Saturday, November 25, production amounted to 253.1 thousand tons. The decrease was 16%.
The day before, the Caspian Pipeline Consortium (CPC) suspended oil loading at the sea terminal due to unfavorable weather conditions; oil intake into the system was limited. The company informed that the tank farms are almost full. In this regard, oil is received from shippers at reduced rates.
The CPC connects the oil fields of western Kazakhstan and Russian fields on the Caspian shelf with the marine terminal in Novorossiysk. CPC is currently the main export route for Kazakh oil.
The shareholders of CPC are: the Russian Federation (24% managed by Transneft, 7% on the balance sheet) – 31%, Kazakhstan (represented by KazMunayGas – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%, Chevron Caspian Pipeline Consortium Company – 15%, LUKOIL International GmbH – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. – 2% and Oryx Caspian Pipeline LLC – 1.75%.
