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Kazakhstan plans to extract nearly 90 mln tons of oil

Oil&Gas Materials 20 June 2019 18:20 (UTC +04:00)

Baku, Azerbaijan, June 20

By Nargiz Sadikhova - Trend:

The expected extraction volume of oil in Kazakhstan in 2019 amounts to 89 million tons, Trend reports with reference to the Ministry of Energy of Kazakhstan.

“This forecast takes into consideration the overhaul on Kashagan, Karachaganak and Tengiz oil fields,” the report said.

“The extraction volume on Tengiz oil field increases. It is planned that extraction volume will amount to 29 million tons this year and it will increase to 39 million tons following the Future Expansion Project in 2024,” said Kanat Bozumbaev, the Minister of Energy of Kazakhstan.

“Total cost of the project amounts to $37 billion and some $12 billion account for Kazakh share,” he added.

“The volume of daily oil extraction amounts to 400,000 barrels following the completion of the overhaul which is record breaking,” said the minister.

He stated that the volume of oil extraction amounted to 36.5 million tons during period of January-May 2019. The oil extraction on Kashagan oil field equaled to 4.24 million tons, on Tengiz oil field amounted to 12.48 million tons and on Karachaganak oil field stood at 4.97 million tons.

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