NUR-SULTAN, Kazakhstan – The volume of oil production in Kazakhstan during the last seven months amounted to 52.23 million tonnes, meaning it has implemented the state’s plan by 101.2%, Kazakhstan’s Energy Minister Kanat Bozumbayev told the President Kassym-Zhomart Tokayev on 13 August.
“Three large oil projects accounted for 31.6 million tonnes,” the minister said, adding that 7.2 million tonnes were produced in Kashagan, 17.5 million tonnes in Tengiz, and about 6.9 million tonnes in Karachaganak.
Since June, after the overhaul of the Kashagan oil field, the production volume reached a stable high level of about 380,000 barrels per day.
According to the results of the past 7 months, gas production amounted to 33.1 billion cubic metres or 101.8% of the plan; commodity gas production – 19.6 billion cubic metres or 104.8% of the plan.
Also at the meeting, Bozumbayev informed Tokayev about investments in the energy sector. The main increase in investment in the amount of $44.5 billion came from the implementation of three large oil and gas projects: the future expansion of the Tengiz project ($38 billion) and projects to extend the level of production at Karachaganak ($4.5 billion).
The Tengiz Future Expansion Project will allow to achieve a quantum leap in production, namely, to increase the annual level immediately by 12 million tonnes from 2023.
Eight investment projects with a total value of $12.3 billion are under implementation in the petrochemical industry.
At the same time, Polypropylene and Polyethylene projects are the largest polymer production projects among neighbouring countries. The volume of investments in the two projects amounts to $9 billion.