Kazakh crude production inches up - OPEC

Oil&Gas 18 January 2022 19:56 (UTC +04:00)
Kazakh crude production inches up - OPEC

BAKU, Azerbaijan, January 18

By Nargiz Sadikhova - Trend:

Liquids output in Kazakhstan increased by 74,000 barrels a day month-on-month to average 2 million barrels a day in November 2021, Trend reports citing OPEC’s Monthly Oil Market Review report.

Oil output from Tengiz, the country’s largest oil field, averaged 0.6 million barrels a day prior to maintenance in August and September. Kazakh crude production inched up by 14,000 barrels a day month-on-month in November to average 1.62 million barrels a day, the highest output since April 2020, and up by 0.2 million barrels a day year-on-year.

At the same time, production of condensate and NGLs was up by 60,000 barrels a day month-on-month to average 381,000 barrels a day in November. This was broadly in line with the 373,000 barrels a day average seen in 1Q2021.

Kazakhstan’s liquids supply estimate for 2021 was revised up by 10,000 barrels a day from the previous assessment and is now estimated to average 1.83 million barrels a day, unchanged year-on-year, while for 2022, liquids supply is forecast to grow by 0.15 million barrels a day to average 1.98 million barrels a day.


Follow the author on Twitter: @nargiz_sadikh