Oil production in Kazakhstan up by 6%
Baku, Azerbaijan, Feb. 6
Kazakhstan's crude oil production in 2018 amounted to 77.5 million tons in physical terms, which is 6.3 percent more than in 2017, and 12.2 trillion Kazakh tenges (KZT) in cash, Trend reports referring to energyprom.kz.
At 47.2 million tons and +11.6 percent per year, Atyrau Region made up almost two thirds (60.9 percent) of the share in production, followed by Mangistau Region at 23.3 percent (18 million tons, + 0.7 percent per year) and Kyzylorda Region at 8.3 percent (6.4 million tons, −6.2 percent per year).
The major producers of crude oil and gas in the Atyrau Region are the North Caspian Operating Company N.V.’s Kashagan field, Tengizchevroil LLP’s Tengiz field, Embamunaygas JSC and others, with Karazhanbasmunai AO, MangistauMunayGaz AO (MMG AO), Karakudukmunai LLP and others operating in the Mangistau Region.
In the Kyzylorda Region, companies such as KuatAmlonMunai Joint Venture LLP, Turgai Petroleum JSC, JV Kazgermunai LLP, and Kor Oil Company JSC are engaged in oil production, among others.
The National Company KazMunayGas specializes in the exploration, production, processing and transportation of hydrocarbons, representing the interests of the state in the national oil and gas industry.
According to KazMunayGaz NC, the company extracts 28 percent of the total oil and gas condensate production in Kazakhstan, provides 65 percent of oil transportation via main pipelines and 77 percent of oil transportation via tankers from the port of Aktau, and processes 82 percent of Kazakhstan’s oil with a retail market share of petroleum products at 17 percent.
The North Caspian project (operated by the North Caspian Operating Company N.V.), with KazMunayGas being one of its shareholders, is the first major project for developing offshore oil and gas fields in Kazakhstan, consisting of five fields: Kashagan, Kalamkas-Sea, Kairan, Aktoty, and South-West Kashagan.
The enormous Kashagan field is one of the largest oil fields discovered in the last four decades, with its recoverable reserves making up about 9–13 billion barrels (1–2 billion tons) of oil.