BAKU, Azerbaijan, March 13. Kazakhstan is projected to produce some 2.07 mb/d of oil in 2025, the US Energy Information Administration Agency (EIA) forecasts, Trend reports.
As such, the agency's forecast for the country's oil output has been revised up by 0.03 mb/d, compared to the previous month's assessment.
Thus, Kazakhstan's crude production level is expected to increase by 0.12 mb/d from the projected 1.95 mb/d to be produced in 2024.
The agency predicts that the country's oil output will reach 2.05 mb/d in the first quarter of 2025. This will be followed by a slight uptick to 2.08 mb/d in the second quarter, then a dip to 1.98 mb/d in the third quarter of the same year. Moving into the fourth quarter of the following year, Kazakhstan is anticipated to ramp up production to around 2.16 mb/d.
Meanwhile, the EIA pegged the country's production level for 2023 at 1.96 mb/d.
Earlier, Kazakhstan's Minister of Energy, Almassadam Satkaliev, stated that the country's oil production would be around 90 million tons in 2023, despite early plans to generate 92-93 million tons.
According to him, about 18 million tons of oil produced in 2023 went to the domestic market. About 56 million tons were exported through the Caspian Pipeline Consortium.
Moreover, the country plans to increase oil production in 2024 to 90.3 million tons.
Furthermore, gas production volume in Kazakhstan amounted to 59.1 billion cubic meters in 2023. The volume of liquefied petroleum gas production at the end of 2023 amounted to 2.95 million tons, consumption - 1.8 million tons. In addition, in 2024, 60.5 billion cubic meters of gas are expected to be produced in the country. The forecast for 2024 for liquefied petroleum gas production is 2.95 million tons, consumption - 2.1 million tons.