Kazakhstan To Ramp Up Crude Oil Production, Minister

ASTANA. KAZINFORM "Kazakhstan intends to ramp up its crude oil production," Kazakh Energy Minister Kanat Bozumbayev told a governmental hour at Majilis. "The large projects will let make a great contribution to the country's economic growth in the medium term. The oil output will grow annually to gradually reach more than 104 mln tons a year by 2025," he went on. According to him, Tengiz, Karachaganak and Kashagan oil and gas projects will remain economic growth drivers in the country's oil and gas sector. Commercial exploitation at Kashagan since the last year let increase the country's annual oil output from 78 mln tons in 2017 up to 86.2 mln tons. 8.3 mln tons were recovered at Kashagan last year. Thus, the country's oil production embarked on a new level," the Minister added. As stated there, for the past four months the country's oil recovery hit 30 mln tons that is 6% more against the same period of 2017. This year the country plans to produce 87 mln tons of oil. 11 mln tons of oil and 6.8 bln cu m of gas are expected this year at Kashagan. Next year it is planned to recover about 370,000 barrels per day, and increase oil output by 450,000 barrels per day by 2024. Tengiz oil recovery is expected to achieve 39 mln tons a year by 2022. Currently it produces 26 mln tons a year.