ASTANA, Kazakhstan, May 23. The volume of oil and condensate production at the operating assets of KazMunayGas (KMG, Kazakhstan's national oil and gas company) amounted to 3.494 million tons (279,000 barrels per day) from January through March 2024, Trend reports.
According to KMG data, production increased by 2.2 percent compared to the first quarter of 2023.
As the KMG noted, the growth was mainly due to the acquisition of a 60 percent stake in the Dunga field in November last year.
At the same time, gas production at the operating assets amounted to 543 million cubic meters, which is 2.4 percent more than the same period in 2023. The growth in production was achieved mainly thanks to the Rozhkovskoye gas condensate field in the West Kazakhstan region, which was put into commercial operation at the end of 2023.
Meanwhile, the volume of oil and gas condensate production by KazMunayGas amounted to 6.064 million tons (503,000 barrels per day) from January through March 2024. The volume of oil and gas condensate production grew by 1.7 percent compared to the same period in 2023.
At the same time, natural and related gas output climbed by 4.6 percent over the reporting period, reaching 2.52 billion cubic meters.
Furthermore, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year. Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.
In 2023, gas production in Kazakhstan amounted to 59.063 billion cubic meters, including large fields such as Tengiz (16.009 billion cubic meters), Karachaganak (22.385 billion cubic meters), Kashagan (11.856 billion cubic meters), and others (8.813 billion cubic meters). Kazakhstan is projected to produce 60.456 billion cubic meters of raw natural gas in 2024.