BAKU, Azerbaijan, June 14. Kazakhstan's Kashagan oil field is expected to reach a production level of approximately 450,000 b/d from 2025 onwards, Trend reports.
As the International Energy Agency (IEA) pointed out, this is quite a substantial increase, compared to its current output of roughly 400,000 b/d.
In Kazakhstan, total oil output slightly declined to 1.8 mb/d in 2022, but is projected to reach a record high of 2.1 mb/d in 2025, and remain around that level until the end of the forecast period (2028).
Meanwhile, the Chevron-led consortium operating Tengiz has initiated early flows from a $45 billion project aimed at increasing output to 850,000 b/d and facilitating future growth. The Tengiz Future Growth Project-Wellhead Pressure Management Project is nearing completion. In 2022, Tengiz, the country's largest oil field, produced an average of 635,000 b/d.
At the same time, Kazakhstan will adjust its oil production level to 1.628 mb/d throughout 2024, following the latest decision OPEC+ made on June 4 the ministerial meeting held in Vienna.