Baku, Azerbaijan, Feb. 23
By Elena Kosolapova - Trend:
Kazakhstan does not plan to decrease oil production in 2015, despite the fall of oil prices, Kazakh Energy Minister Vladimir Shkolnik said, Novosti-Kazakhstan reported.
"The target for this year is 80.5- 80.8 million metric tons as it was in 2014," Shkolnik said at the briefing in the Central Communication Service on Feb. 23.
He noted that Kazakhstan increased oil production by 0.8 percent in Jan. 1 - Feb. 20 compared to the same period of 2014.
"So everything is good... I think we will meet the target for this year," Shkolnik said.
World oil prices have dropped from almost $110 per barrel to below $50 in recent months. Earlier Kazakh Vice-Minister of Energy Uzakbay Karabalin made a statement that the prime cost of oil production in the country is quite high and averages about $50 per barrel. Thus, oil production could be unprofitable at some fields in Kazakhstan.
Kazakhstan produced 80.845 million metric tons of oil, including gas condensate in 2014. The revenues from oil sale are the main income source for the country.
Edited by S.I.
Follow the author on Twitter: @E_Kosolapova