(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 16. OPEC projects
Kazakhstan's liquids supply to experience a significant upswing by
approximately 80,000 b/d in 2024 - to reach an average of 2 mb/d,
This growth can be primarily attributed to the expansion
activities taking place at the Tengiz oil field as part of the
Tengizchevroil Future Growth Project (FGP), coupled with
improvements in wellhead pressure management, OPEC believes.
Additionally, there are marginal increases anticipated in oil
production at the Kashagan field and in gas condensate output from
the Karachaganak field, the bloc's latest outlook indicates.
Meanwhile, OPEC expects Kazakhstan's liquids supply in 2023 to
grow by 0.1 mb/d, reaching an average of 1.9 mb/d.
At the same time, according to the Energy Ministry of
Kazakhstan, the country decreased its daily production by 27,000
Moreover, Kazakhstan has been lagging behind its production
quota of 1.55 mb/d, which was established as part of the OPEC+
agreement, for several months already. Consequently, in August,
Kazakhstan fell short of the quota by 100,000 b/d.
As the latest OPEC+ decision came in force June 4, Kazakhstan is
expected to adjust its oil production level to 1.628 mb/d
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