BAKU, Azerbaijan, August 2
By Nargiz Sadikhova - Trend:
The volume of oil and gas condensate production by Kazakhstan’s KazMunayGas National Company (KMG) amounted to 10.7 million tons (445,000 barrels of oil a day) in 1H2021, showing a decrease of 5.3 percent compared to the first half of 2020, Trend reports citing KMG.
The volume of production of associated and natural gas decreased by 5.6 percent to 4.07 billion cubic meters.
Oil production at Tengiz decreased by 5.1 percent compared to the first half of 2020, amounting to 2.7 million tons (119,000 barrels of oil a day), and gas production declined by 4.2 percent, amounting to 1.5 billion cubic meters. A significant impact on the decline in oil production was made by the obligations assumed to limit production under the OPEC+ agreement.
Oil production at Kashagan decreased by 8.9 percent to 613,000 tons of oil (27,000 barrels of oil a day), while gas production decreased by 7.9 percent and amounted to 374 million cubic meters. The decrease in production compared to the same period of the previous year was due to the assumed obligations to limit production under the OPEC+ agreement.
Production of liquid hydrocarbons at Karachaganak decreased by 4.1 percent and amounted to 539,000 tons (23,000 barrels of oil a day). Gas production amounted to 1.003 billion cubic meters and decreased by 3.9 percent compared to the first half of 2020. The decline in production was due to restrictions on the intake of gas sent for processing to the Orenburg Gas Processing Plant, as well as due to a decrease in gas re-injection capacity due to high ambient temperatures in June this year.
Oil production at operating assets decreased by 5.2 percent to 6.8 million tons (275,000 barrels of oil a day) and gas production decreased by 8 percent to 1.1 billion cubic meters. The decrease in production volumes was mainly due to the assumed obligations to limit production under the OPEC+ agreement, as well as a natural decline at production at mature fields.
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