Free Trial

Kazakhstan’s Oil Output at Largest Fields to be Stable in 2024

OIL

Kazakhstan’s oil production from its three largest fields: Tengiz, Kashagan and Karachaganak, will remain at the level of 2023 this year, the Kazakh Ministry of Energy said in a written response to Reuters.

  • The Ministry of Energy saw oil output in 2024 at 90.3m mt, accoridng to Bloomberg headlines. This is the same as ealrier forecasts.
  • The Moscow Times reported that oil production at the Tengiz field was 28.9m mt (630k b/d) in 2023, Kashagan – 18.8m mt (407k b/d), and Karachaganak – 12.1m mt (260k b/d), according to industry sources.
  • Repairs on the fields will take place in August and October.
  • The Ministry also said that production limitations under the OPEC+ deal for Kazakhstan will be effective for Q1, further restrictions for the rest of the year have not been discussed.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.