Kazakhstan intends to produce 100M tons of oil p.a. by 2025
"The country's oil production drivers are three major oil and gas projects: Tengiz, Karachaganak, and Kashagan. They will make a significant contribution to the country's economic growth in the medium term. The crude oil output will rise and by 2025 will have reached the level of 104 million tons per annum," reads the report outlined during a briefing at the Kazakh Ministry of Foreign Affairs.
It is mentioned that to this end, projects for the further expansion and production extension are being implemented in all three fields.
"By 2024, in Kashagan, the project of further expansion is expected to increase production from 13 million to 16 million tons per annum. Since the very beginning of the project implementation (since 1998), the investment in the social and infrastructure development of Atyrau and Mangistau regions has amounted to $570 million," the report said.
The Karachaganak field future development plan covers the implementation of projects to maintain the current production levels: modernization of gas facilities, construction of the fourth compressor and the fifth infield pipeline. The investment in the projects, to be implemented by 2020, exceeds $1.5 billion.
Over 30,000 Kazakhstanis work in Tengiz field within the framework of the future expansion project. The project investment amounted to about $38 billion, of which more than $11 billion was utilized in the past two years and over $7 billion is assumed to be disbursed in 2018. After 2022, oil production in Tengiz will rise from the current 27 million to 39 million tons p.a.