BAKU, Azerbaijan, July 13. Kazakhstan's oil output in 2024 is expected to grow further, with a rise of approximately 80,000 b/d to an average of 2.0 mb/d, Trend reports.
According to the data received from OPEC, this growth can be attributed primarily to production ramp-ups in the Tengiz oil field through the Tengizchevroil Future Growth Project (FGP) and the wellhead pressure management project.
Additionally, there are expectations for a marginal increase in oil production from the Kashagan field and gas condensate output from the Karachaganak field, OPEC noted.
Meanwhile, the bloc also expects the country's liquids output to stand at an average of 1.9 mb/d in 2023.
As the latest OPEC+ decision came in force June 4, Kazakhstan will adjust its oil production level to 1.628 mb/d throughout 2024.
Overall, in the first half of this year, Kazakhstan recorded a 5.6 percent increase in crude oil extraction and a 2.5 percent rise in natural gas production.