ASTANA, Kazakhstan, October 21. The International Monetary Fund, in its October forecast, predicts that Kazakhstan will produce 1.8 million barrels of oil per day by the end of 2023, Trend reports.
In the May forecast, the IMF expected production at 1.86 million barrels per day.
At the same time, the financial institution lowered its production forecast for 2024.
Thus, in the May forecast, production was expected at 2.05 million barrels of oil per day. But in the new October forecast, the IMF's expectations dropped to 2 million barrels per day.
As the Deputy Minister of Energy of Kazakhstan, Askhat Khasenov, previously stated, oil production volumes in Kazakhstan may decrease slightly this year.
"By the end of the year, it is planned to produce 90.5 million tons of oil. Based on the results of 8 months of this year, we will not reach the planned level," he said.
The volume of oil production in 2022 in Kazakhstan amounted to 84.2 million tons, or 101.6 percent of the planned figure.
The Tengiz field produced 29.2 million tons of oil, or 100 percent of the 2022 plan. Oil production at the Karachaganak field amounted to 11.3 million tons, or 103.8 percent of the plan. At Kashagan, oil production amounted to 12.7 million tons, or 109.5 percent.
Oil exports in 2022 reached 64.3 million tons, or 103.4 percent of the plan.
Kazakhstan also plans to produce 90.5 million tons of oil in 2023, of which 71 million are planned to be exported.
The volume of oil production in Kazakhstan at the end of 2021 amounted to 85.9 million tons; in 2020, it was 85.7 million tons.