Ministry of Energy of the Republic of Kazakhstan: The Tengiz Field Will No Longer Increase Oil Production
Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, …
An Earthquake Occurred in the Western Part of the Republic of Kazakhstan Near the Tengiz Oil Field
An earthquake with a magnitude of 4.2 was recorded in the Atyrau Region in the western part of the Republic of Kazakhstan at 11:44 local time, according to the United States Geological Survey (USGS). According to the USGS, the epicenter of the earthquake was located 32 kilometers southwest of the …
US Lifts Sanctions Restrictions on Kazakhstan’s Oil and Gas Projects
The US Treasury Department has issued an indefinite license to provide oil services to the Caspian Pipeline Consortium (CPC) and Tengizchevroil, lifting previously imposed restrictions under sanctions against Russia. According to the published document, all transactions related to these projects are now permitted. Previously, there was a temporary permit that …
The Republic of Kazakhstan Takes Its Own Interests into Account Rather Than Those of the OPEC+ When Determining Oil Production Quotas
The Republic of Kazakhstan intends to prioritize its national interests over its commitments to the Organization of the Petroleum Exporting Countries Plus (OPEC+) when determining its oil production quotas. This was stated in an interview with Reuters by the newly appointed Minister of Energy of the Republic of Kazakhstan, Yerlan …
Kazakhstan Compensates for Overproduction of Oil at Kashagan
The Kazakh authorities intend to compensate for a significant amount of overproduction of oil during repairs at the Kashagan field in October. This was reported by the press service of the Ministry of Energy of Kazakhstan. “The government has denied information about the postponement of repairs at the Kashagan field. …
Kazakhstan Intends to Develop New Gas Deposits
The Kazakh authorities are planning to develop new gas fields with a total production volume of 1 billion cubic meters in the near future. m per year. This was stated by the President of the Republic Kassym–Jomart Tokayev in a message to the people at a joint meeting of the …
Kazakhstan Has Declared Its Commitment to Cooperation Within the Framework of OPEC+
The Kazakh authorities intend to continue cooperation within the framework of OPEC+. This was stated by the head of the Government of the republic Olzhas Bektenov at a meeting in Astana with OPEC Secretary General Haitham al–Gais. “Kazakhstan is committed to further cooperation within the framework of OPEC+. We support …
Kazakhstan Intends to Increase Oil Production to Almost 105 Million Tons in 2029
Kazakhstan plans to increase oil production to 104.8 million tons in 2029, Minister of National Economy Nurlan Baybazarov said at a government meeting. “The volume of oil production will increase from 97.2 million tons in 2025 to 104.8 million tons in 2029,“ he said. In 2023, 90 million tons of …
Kazakhstan Has Updated the Oil Production Compensation Plan Within the Framework of OPEC+
The Kazakh authorities have updated the oil production compensation plan under the OPEC+ agreement and sent it to the association‘s secretariat. This was reported by the press service of the Ministry of Energy of the Republic. “Kazakhstan confirms its commitment to the OPEC+ agreement and supports the decisions taken jointly …
KazMunayGas and China’s CNOOC to Conduct Exploration in Kazakhstan
During his visit to China, A. Khasenov held meetings with the heads of leading Chinese companies China National Offshore Oil Corporation International Limited (CNOOC) and CITIC Group. This is reported by the KMG press service. During the meeting, issues of implementing joint initiatives in the field of exploration, oil production …