Kazakhstan reveals plans on oil and gas output in 2016

Business Materials 19 February 2016 20:38 (UTC +04:00)

Baku, Azerbaijan, Feb. 19

By Elena Kosolapova - Trend:

Kazakhstan plans to produce 77 million tons of oil and 43.5 billion cubic meters of gas in 2016, said the report on the results of the Kazakh Energy Ministry's activity in 2015 and tasks for 2016.

In 2015, the production of oil and condensate was 79.46 million tons in Kazakhstan, which is 1.7 percent less than in 2014, and gas output - 45.3 billion cubic meters, which is 5 percent more than in 2014.

Stabilization of oil production with its further growth is expected in Kazakhstan since 2017, according to the ministry.

Most of the growth in the country's oil output will be provided by the company Tengizchevroil LLP, which develops Tengiz field, and by Karachaganak Petroleum Operating (KPO) company, which develops Karachaganak field, as well as offshore oil production.

Kazakhstan plans to export about 60 million tons of oil in 2016 (against 60.95 million tons in 2015).

Gas export is planned at the level of 11.6 billion cubic meters in 2016 (against 12.7 billion cubic meters in 2015).

Oil refining is planned in the volume of 14.3 million tons in 2016 in Kazakhstan (against 14.546 million tons in 2015).


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