Oil production in Kazakhstan to reach 105mn tonnes by 2025
ATYRAU. KAZINFORM By 2025, annual oil production in our country will reach 105mn tonnes, according to Minister of Energy Kanat Bozumbayev, who said it at the celebratory events dedicated to the 120th anniversary of Kazakhstan’s oil, Kazinform correspondent reports.
«Kazakhstan continues to implement a number of large-scale and long-term engineering and technical projects in oil and gas sector. Thus, the bulk of investments increase ($44.5bn) in a short-term period in oil production comes from the implementation of three projects: Tengiz Future Growth Project ($36.8bn), Kashagan Expansion Project 1st stage ($2bn) and the Project of extending the level of production at Karachaganak ($4.5bn) ,» the Minister said.
More than 46,000 Kazakhstanis are working at Tengiz today. A successful implementation of the Future Growth Project will let increase oil extraction by 12mn tonnes beginning from 2023.
Oil production at Kashagan has reached 380,000 barrels per day for now. The projects being implemented here are aimed at increasing daily production to 420,000 barrels by 2022 and to 500,000 barrels by 2027.
The projects which are underway at Karachaganak will allow maintaining production level for a long-term period.