BAKU, Azerbaijan, November 14. Liquids output in Kazakhstan fell by 50,000 barrels a day to average 1.5 million barrels a day in September, Trend reports citing OPEC’s Monthly Oil Market Report.
Crude production was up by 72,000 barrels a day m-o-m to average 1.3 million barrels a day, while NGLs declined by 122,000 barrels a day to average 0.2 million barrels a day.
Higher oil output was due to the gradual Kashagan oil field ramp up, while planned maintenance in the Karachaganak gas condensate field, as well as emergency repairs at the Caspian Pipeline Consortium (CPC) terminal on Russia's Black Sea coast, reduced total monthly liquids output. Kazakhstan's liquids supply for 2022 is now forecast to decline by 25,000 barrels a day y-o-y to average 1.8 million barrels a day.
This is down by 41,000 barrels a day compared with the previous month's assessment, due to downward revisions applied to 3Q22 and 4Q22. According to preliminary estimates by the Kazakh Energy Ministry, output was supposed to be fully restored by the end of October.
According to CPC, however, as of 21 October, emergency repairs at the CPC crude terminal were delayed due to stormy weather. No revised timeline has been given for completion of the work.
For 2023, liquids supply is forecast to increase by 146,000 barrels a day, up by 28,000 barrels a day compared to the previous forecast, due to production ramp-ups at Kashagan.
Oil production in the Tengiz field and gas condensate output in the Karachaganak field are also expected to rise marginally.