ASTANA, Kazakhstan, November 25. Kazakhstan is developing measures to support mature oil fields, which will allow for the extraction of an additional 40 million tons of oil by 2045, Almassadam Satkaliyev, Minister of Energy and Mineral Resources of Kazakhstan, said in a report during the government hour in the parliament, Trend reports.
According to the minister, measures have been developed in Kazakhstan to support mature fields, including tax incentives, with the condition of mandatory reinvestment in the development and implementation of new extraction technologies. These measures are expected to enable the additional extraction of approximately 40 million tons by 2045.
Satkaliyev emphasized that most of the fields, which account for up to 30 percent of the country's oil production, are in the later stages of development, resulting in declining production levels. For example, there has been a significant reduction in oil production in the Mangystau, Aktobe, and Kyzylorda regions. Moreover, the latter two regions supply most of their oil to the domestic market.
"At the same time, by 2040, the trend of declining oil production in fields excluding major ones will continue," added Almassadam Satkaliyev.
In his report today, the Minister of Energy outlined key aspects of oil extraction and energy resource trading. Several major tasks were set for the future development of the energy sector, particularly plans to address the risk of domestic energy shortages.
