Oil production in Kazakhstan expected to grow in future thanks to development of major energy projects
Astana, Kazakhstan, Jan. 16
By Daniar Mukhtarov - Trend:
Maintaining the level of oil production in Kazakhstan after 2025 will only be possible through the development of new fields, Kazenergy Association CEO, Aset Magauov said at the association's enlarged meeting.
He noted that oil production in Kazakhstan in recent years is being kept at the level of about 80 million tons per year.
"The main production growth is expected to come with the development of major oil and gas projects (Kashagan, Tengiz, Karachaganak), which will offset the projected decline in production at other fields," the CEO said.
"Meanwhile, after 2025 it will be possible to maintain the level of production only through the development of new deposits," Magauov added.
He said it is also necessary to take into account that delivery of Kazakh oil to domestic markets will grow following modernization of the country's refineries and a possible reduction in supplies of Russian oil.
"The oil refineries' utilization without involving oil supplies from the major projects and provision of equal prices for oil is not possible," he said.
Translated by E.A.
Edited by C.N.