Kazakhstan plans to increase oil production by 12 million tons per year

Kazakhstan’s Ministry of Energy said that it plans to increase oil production at the Tengiz field by 12 million tons per year, noting that major projects are currently being implemented at the three main fields in the country.

“A future expansion project is being implemented at the Tengiz field, and the wellhead pressure management project is planned to be completed in 2024, which will lead to an increase in oil production by 12 million tons per year,” Kazakhstan’s Ministry of Energy said.

In addition, the fourth gas re-injection compressor was inaugurated at the Karachaganak field; the implementation of the fifth compressor, the cost of which is about a billion dollars, began; and the sixth compressor, worth 735 million dollars, was also built.

These projects are aimed at maintaining the production of the field at the level of 10–11 million tons per year.

The Atyrau region is the leader in the country’s oil and gas industry. The volume of oil production in the region by the end of 2022 amounted to 46.8 million tons. For nine months of this year, the volume of production amounted to 39.2 million tons. The plan for 2023 is 51 million tons.