Maximum compensation for oil overproduction by Kazakhstan under OPEC+ deal to fall on Oct
ASTANA. Oct 3 (Interfax) - Kazakhstan's compensation for oil overproduction under the OPEC+ deal is expected to reach its maximum level in October due to the maintenance at Kashagan, its biggest oil and gas field, the Energy Ministry told Interfax.
"We expect the maximum volume of compensation [for oil overproduction under the OPEC+ deal] in October due to a scheduled shutdown project at the Kashagan field," the ministry said.
Kazakhstan's oil output target remains unchanged despite the Kashagan overhaul project, according to the ministry.
Oil production in September was in line with the target, excluding gas and condensate production, the ministry said.
"[In September] Kazakhstan offset the overproduced volumes according to the compensation plan," the ministry said.
The overhaul project at the Kashagan oil field, initially set to begin on October 3, has been pushed back to October 7, the Energy Ministry said earlier.