13 Mar 2024 18:34

OPEC retains forecast for Kazakhstan's output of liquid hydrocarbons in 2024, raises it slightly for 2025

ASTANA. March 13 (Interfax) - OPEC expects Kazakhstan to produce about 1.9 million barrels of liquid hydrocarbons per day in 2024 and 2.1 million bpd in 2025, OPEC said in its monthly report.

OPEC in February had also forecast Kazakhstan to produce about 1.9 million bpd of liquid hydrocarbons in 2024, as well as 2 million bpd in 2025.

OPEC expects growth in 2025 to result mainly from Kazakhstan ramping up production at the Tengiz oil field, as well as from future expansion projects and projects for wellhead pressure management in the first quarter of next year.

Kazakhstan's liquid hydrocarbon production remained flat in January compared to the previous month, averaging 2 million bpd. Oil output rose by 15,000 bpd month-on-month in January, averaging 1.6 million bpd. Production of natural gas liquids and condensate declined by 10,000 bpd in the month, averaging 400,000 bpd, according to the OPEC report.