Kazakh Kazmunaygas Reveals Volume Of Oil, Condensate Output At Running Assets

(MENAFN- Trend News Agency) ASTANA, Kazakhstan, May 23. The volume of oiland condensate production at the operating assets of KazMunayGas(KMG, Kazakhstan's national oil and gas company) amounted to 3.494million tons (279,000 barrels per day) from January through March2024, Trend reports.

According to KMG data, production increased by 2.2 percentcompared to the first quarter of 2023.

As the KMG noted, the growth was mainly due to the acquisitionof a 60 percent stake in the Dunga field in November last year.

At the same time, gas production at the operating assetsamounted to 543 million cubic meters, which is 2.4 percent morethan the same period in 2023. The growth in production was achievedmainly thanks to the Rozhkovskoye gas condensate field in the WestKazakhstan region, which was put into commercial operation at theend of 2023.

Meanwhile, the volume of oil and gas condensate production byKazMunayGas amounted to 6.064 million tons (503,000 barrels perday) from January through March 2024. The volume of oil and gascondensate production grew by 1.7 percent compared to the sameperiod in 2023.

At the same time, natural and related gas output climbed by 4.6percent over the reporting period, reaching 2.52 billion cubicmeters.

Furthermore, Kazakhstan produced 90 million tons of oil in 2023,which is 6.9 percent higher than in 2022. Oil exports alsoincreased and amounted to 70.5 million tons, which is 9.6 percentmore than the previous year. Moreover, Kazakhstan plans to increaseoil production in 2024 to 90.3 million tons.

In 2023, gas production in Kazakhstan amounted to 59.063 billioncubic meters, including large fields such as Tengiz (16.009 billioncubic meters), Karachaganak (22.385 billion cubic meters), Kashagan(11.856 billion cubic meters), and others (8.813 billion cubicmeters). Kazakhstan is projected to produce 60.456 billion cubicmeters of raw natural gas in 2024.


Trend News Agency

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