Kazakhstan's Liquid Production To Inch Up - OPEC
Date
4/19/2024 1:07:59 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 19. Kazakhstan's liquidproduction is projected to grow slightly by about 18,000 b/d to anaverage of 1.9 mb/d, Trend reports.
Thus, OPEC has revised its forecast for the country's output by9,000 b/d compared to the previous assessment, thanks to thehigher-than-expected output in February.
Meanwhile, in February, Kazakhstan's liquid productionexperienced a decline of 13,000 b/d compared to the previous month,averaging 2 mb/d.
Oil production in the Kashagan field and gas condensate outputin the Karachaganak field are expected to see marginal increases,the bloc noted in its outlook.
Moreover, Kazakhstan's liquid supply is forecasted to rise by100,000 b/d in 2025, reaching an average of 2.1 mb/d.
Previously, Kazakhstan's Minister of Energy Almassadam Satkalievindicated that the country's oil production in 2023 amounted toapproximately 90 million tons, falling short of earlier projectionsof 92-93 million tons. Of the total oil produced in 2023, about 18million tons were allocated for the domestic market, whileapproximately 56 million tons were exported through the CaspianPipeline Consortium.
Furthermore, Kazakhstan aims to boost its oil production to 90.3million tons in 2024.
Additionally, in 2023, gas production in Kazakhstan reached 59.1billion cubic meters, with liquefied petroleum gas productiontotaling 2.95 million tons and consumption standing at 1.8 milliontons. Looking ahead to 2024, the country anticipates gas productionto reach 60.5 billion cubic meters, with forecasts for liquefiedpetroleum gas production at 2.95 million tons and consumption at2.1 million tons.
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