Kazakhstan’s Oil Production Soars to New Heights
A Record-Breaking Achievement
Kazakhstan’s oil production has reached an unprecedented daily high of 278,499 metric tons, marking a significant milestone for the country. This achievement comes on the heels of the expansion of its largest oilfield, Tengiz, led by Chevron.
The Backbone of Kazakhstan’s Economy
The country’s economy relies heavily on three major oilfields: Tengiz, Karachaganak, and Kashagan. As a member of OPEC+, Kazakhstan is subject to output targets, alongside other top producers like Russia and Iraq. However, the country has struggled to comply with its pledges to curb oil production, according to OPEC+.
A Daily Record High
Sunday’s record-breaking output translates to approximately 2 million barrels per day (bpd), using a barrels per ton ratio of 7.5. This represents a 10.5% increase compared to the same day in 2024, according to the Situational and Analytical Center for the Fuel and Energy Complex.
Tengiz Expansion: A Game-Changer
The expansion at Tengiz is expected to reach full capacity of 260,000 bpd by June, boosting overall production at the project to around 1 million barrels of oil equivalent per day. Notably, Tengiz is one of the world’s most complex fields due to its high sulphur levels and harsh weather conditions.
Ambitious Production Targets
Kazakhstan aims to increase its oil and gas condensate production this year to 96.2 million tons, up from 87.56 million tons in 2024. This ambitious target underscores the country’s commitment to becoming a major player in the global oil market.
A Bright Future Ahead
As Kazakhstan continues to ramp up its oil production, it is poised to solidify its position as a top 10 global oil producer. With the Tengiz expansion and other projects in the pipeline, the country is well on its way to achieving its production goals and cementing its status as a key player in the energy sector.
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