BAKU, Azerbaijan, June 6. Kazakhstan is planning to increase oil production to 700,000 barrels per day, Kazakhstan’s Minister of Energy Bolat Aqchulaqov said, Trend reports citing Kazakh media.
Aqchulaqov made the statement at the government meeting on June 6.
He noted that the gas produced in Kazakhstan is mainly associated petroleum gas, which requires processing.
“However, given the low interest of subsoil users in expanding the resource base, taking into account prices that do not cover the cost of gas production, appropriate incentive measures and updating the pricing policy are necessary,” Aqchulaqov said.
In this regard, he said, replenishing the resource base of Kazakhstan through stimulating measures for gas projects is needed.
“Currently, in order to increase the resource base, work is underway to build a gas processing plant at the Kashagan field, which by 2030 will be able to provide for an increase in commercial gas in the amount of more than 6.2 billion cubic meters. We forecast that this will be performed in three stages. Since June 2021, construction and installation work has been actively underway on the first stage of the project with a capacity of 1 billion cubic meters," the minister said.
The commissioning of the first stage is expected in 2024.
“The construction of the plant is being worked out as part of the implementation of the second phase of the Kashagan project, which will increase oil production from 400,000 barrels per day to 700,000 barrels per day,” he concluded.