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Tengiz oil production set to reach 39 million tons

20 June 2019 18:02

NUR-SULTAN. KAZINFORM - Oil production is on the rise at the Tengiz Field, said Minister of Energy of Kazakhstan Kanat Bozumbayev, Kazinform correspondent reports.

This year, oil production is expected to reach 89 million tons. The target is to be attained taking into account overhauls at the Kashagan, Karachaganak, and Tengiz fields.

"At the Tengiz Field, oil production is on the rise. This year it is expected to reach the figure of 29 million tons. After the Future Growth Project implementation is completed in 2024, production is expected to increase to the level of 39 million tons per annum. Over 45,000 Kazakhstanis are presently working within the large-scale project, the total progress is more than 61%," Kanat Bozumbayev told today's meeting with citizens in Nur-Sultan.

According to the minister, the total value of the project is around $37 billion, $12 billion of which is Kazakhstani content.

"After the overhaul at Kashagan, production hit a record high of 400,000 barrels per day. We were to reach this level at the end of this year," the minister said.

Amounting to 4.97 million tons at Karachaganak, 12.48 million tons at Tengiz, and 4.24 million tons at Kashagan, oil production totaled 21.7 million tons.