Baku, Azerbaijan, Feb. 9
By Elena Kosolapova - Trend:
Kazakh President Nursultan Nazarbayev ordered to increase oil production and refining within the meeting with Energy Minister Kanat Bozumbayev Feb. 9, the presidential press-service said.
“Oil production at Kashagan has started. Decision on expansion of the Tengiz field has been made. In addition, we have handled the matter with Karachaganak field. Thereupon it is necessary to increase oil production and refining,” the president said.
The minister in turn noted that oil production target was exceeded and oil export increased in 2016.
“The oil production target was 75.5 million tons; oil output reached 78 million tons. Over-fulfillment resulted from production at Kashagan, which gave about 1 million tons of oil in 2016,” Bozumbayev said.
Oil exports increased to 62 million tons, including 40 million tons pumped by the Caspian Pipeline Consortium pipelines, according to the minister. Moreover, liquid gas production increased by 136 tons.
Kazakhstan's proven oil reserves as of early 2016 stood at 30 billion barrels, according to the BP Statistical Review of World Energy.
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