Kazakhstan oil output to hit record in 2018, says Energy Minister

ASTANA. KAZINFORM - In 2018, Kazakhstan will produce 90.3 million tons of crude oil, Kazakh Minister of Energy Kanat Bozumbayev told a briefing at the Central Communications Service, summing up the work done in the outgoing year, Kazinform correspondent reports.

"This year Kazakhstan will hit record by producing 90.3 million tons, which is 104.7 percent higher than in 2017," said Kanat Bozumbayev.

In 2017, crude oil output amounted to 86.2 million tons.

"Oil production within three major projects will be equal to 53.9 million tons, including 13.2 million tons (120 pct of the 2018 target) at the Kashagan Field, 28.6 million tons (103.3 pct of the 2018 target) at Tengiz, and 12.1 million tons (100.8 pct of the 2018 target) at Karachaganak," said Kanat Bozumbayev.

According to the head of the Ministry of Energy, oil exports will reach 71.5 million tons, or 102.4 percent higher in contrast to 2017.

Crude oil refined in 2018 will amount to 16.1 million tons, increasing by 8 percent over the previous year.