More oil expected from Kazakhstan

13 May 2017   Kazakhstan

Kazakhstan could add at least another quarter million barrels of oil per day to the market through new field development, a country assessment found. The U.S. Energy Information Administration updated its country profile for Kazakhstan, noting the landlocked Central Asian country last year reached major milestones with oilfield developments. In October, the giant Kashagan field resumed production following several years of delays. At its peak, Kashagan should produce at least 370,000 barrels per day. In July, a consortium managing the Tengiz reservoir “decided to proceed with expansion plans that should increase liquids production at the Tengiz project by about 260,000 bpd beginning in 2022,” the EIA’s assessment read. Kazakhstan is one of the 12 producers outside of the Organization of Petroleum Exporting Countries that agreed […]

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