ASTANA, Kazakhstan, November 25. Kazakhstan's Ministry of Energy has revealed the main reasons for the decline in oil production in the country, Almassadam Satkaliyev, Minister of Energy and Mineral Resources of Kazakhstan, said in a report during the government hour in the parliament, Trend reports.
In his report, Satkaliyev noted that for the first 10 months of the year, the oil production volume amounted to 73.5 million tons. The forecast for oil production this year is 88.4 million tons.
The decline in production compared to the plan is related to capital repairs at major fields, such as the Tengiz field, where repairs were carried out in connection with the planned launch of the Future Expansion Project in May and August, involving repairs that lasted a total of 50 days. At the Kashagan field, the decline was due to capital repairs involving the replacement of a slug catcher, with a complete shutdown for 28 days.
Satkaliyev also mentioned that unscheduled shutdowns at the Karachaganak field and gas acceptance limitations by the Orenburg gas processing plant had affected production levels.
The Minister of Energy also stated that the reduction in production levels is influenced by Kazakhstan's commitments under the OPEC+ Agreement.
"Kazakhstan participates in the OPEC+ Agreement. For Kazakhstan, as for other countries, certain commitments are set for 2024, specifically production of 1.468 million barrels per day. Fulfilling the terms of the agreement is necessary to maintain stability in the global oil market," emphasized Satkaliyev.
In 2023, oil production volumes amounted to about 90 million tons, of which 70.5 million tons were exported.
