BAKU, Azerbaijan, March 12. Kazakhstan's liquids output in 2024 is expected to grow by 10,000 b/d, averaging 1.9 mb/d, Trend reports.
According to the forecast made by OPEC, the outlook has been revised down by 13,000 b/d, compared to the previous assessment, as the higher-than-expected January output was offset by the voluntary adjustment implication in 2Q2024.
Anticipated growth in oil production at the Kashagan field and gas condensate output at the Karachaganak field is expected to be marginal, OPEC noted.
Furthermore, Kazakhstan's liquid supply in 2025 is projected to increase by 0.1 tb/d, averaging 2.1 mb/d. The growth is primarily attributed to production ramp-ups in the Tengiz oil field, driven by the expansion at the Tengizchevroil Future Growth Project (FGP) and the Wellhead Pressure Management Project in 1Q2025.
Meanwhile, liquid production in Kazakhstan held steady in January, staying at an average of 2.mb/d on a month-on-month basis. Crude production experienced a 15,000 b/d increase, reaching an average of 1.6 mb/d. Meanwhile, NGL and condensate output saw a 10 tb/d decrease, averaging 0.4 mb/d on a month-on-month basis.