BAKU, Azerbaijan, Nov. 11
By Fakhri Vakilov-Trend:
Kazakhstan’s Ministry of Energy raises the forecast for annual production in the country from 89 million to 90.5 million tons of oil per year, taking into account the growth in oil production, Trend reports citing Energy Ministry’s press service.
According to the new forecast, production will exceed the 2018 indicator of 90.4 million tons.
According to the results of 10 months of this year, the volume of oil production in Kazakhstan amounted to 74.8 million tons, which is 3 percent more compared to the same period in 2018.
Oil production at three major oil and gas fields in the country amounted to 11.5 million tons in Kashagan, 24.6 million tons in Tengiz, and 9.1 million tons in Karachaganak.
“This year, overhauls were successfully carried out on three projects with a complete shutdown of the main production. At Kashagan, overhaul was carried out from April 14 to May 19, 2019, and was completed 15 days ahead of schedule; at Tengiz field, the overhaul was performed from August 1 to September 12 and completed ahead of schedule by three days; and repairs on Karachaganak were carried out from September 15 to October 13,” read the message.
Despite the shutdown of the main production, the expected production volume at the end of the year has increased: from 13.5 million tons to 14.5 million tons at Kashagan, from 29 million tons to 29.6 million at Tengiz, and from 11 million tons to 11.2 million tons at Karachaganak.
Moreover, the volume of oil lifting via the Caspian Pipeline Consortium’s (CPC) Marine Terminal (MT) amounted to 5.4 million gross tons (43.4 million barrels) of crude oil in October 2019, which is 7 percent more than during the same period of last year.
Overall in October this year, the Kazakh producers shipped 4.8 million tons of crude, and 655,849 tons of lifted crude was received from the Russia.
CPC Pipeline System is one of the major investment projects in energy sector with participation of foreign capital in the CIS.
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