BAKU, Azerbaijan, March 30. Due to the situation with the restoration work at the Caspian Pipeline Consortium (CPC), the volume of lost oil extraction in Kazakhstan may amount to about 320,000 barrels per day (1.3 million tons for the period of repair until the end of April this year), Trend reports via Kazakh Ministry of Energy.
This reduction will be considered part of the compensation plan as part of the engagement with OPEC+ partners.
Taking into account the overhaul at the facilities of the North Caspian Operating Company (NCOC) from June through July, Kazakhstan by the end of June will fully compensate for its obligations to limit oil extraction under the OPEC+ agreement.