Kazakhstan's Energy Ministry again lowers outlook for domestic oil output in 2024

ASTANA. Dec 17 (Interfax) - Kazakhstan should produce 87.8 million tonnes of oil in 2024 rather than the previously forecast 88.4 million tonnes, the country's Energy Minister Almassadam Satkaliyev said.

"Oil output is expected to total 87.8 million tonnes in the current year," Satkaliyev said at a government meeting on Tuesday in Astana.

Satkaliyev in November announced a reduction in the oil production forecast to 88.4 million tonnes from the previously projected 90.3 million tonnes.

Satkaliyev on Tuesday clarified that major repairs at large oilfields have caused the downgrade in output.

"Repairs lasting 50 days occurred in May and August at Tengiz related to the planned launch of the Future Expansion Project, and repairs occurred at Kashagan to replace the slug catcher, with complete shutdown for 21 days. Moreover, the downturn in production occurred because of unscheduled shutdowns at the Karachaganak field and restrictions on gas intake at the Orenburg Gas Processing Plant; shutdowns of the Caspian Pipeline Consortium (CPC) for scheduled maintenance; as well as repairs at the second-generation plant of the Tengiz field owing to an internal steam leak into the process flow since October 26," Satkaliyev said.