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Kazakhstan to increase oil, gas condensate production

Oil&Gas Materials 17 September 2018 14:24
In 2019, oil and gas condensate production is expected to reach 93 million barrels in Kazakhstan

Baku, Azerbaijan, Sept. 17

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In 2019, oil and gas condensate production is expected to reach 93 million barrels in Kazakhstan, the National Bank of Kazakhstan reported on Sept. 17.

According to the forecast of the Kazakh National Bank, by the end of 2018, oil and gas condensate production will amount to 91 million barrels.

"The favorable situation at world commodity markets remains and stable growth of economy is expected in the key export markets of Kazakhstan. In 2018, there will be 37.4 percent growth in goods exports. In the background of scenario reduction of oil prices in 2019 to $60 per barrel, exports are projected to decrease by 1.1 percent," the bank said in the message.

The main export commodities of Kazakhstan are oil and gas condensate (in 2017 their share in exports was 59.8 percent), ferrous metals (8.7 percent) and non-ferrous metals (10.1 percent).

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