Kazakh PM asks Energy Ministry to step up measures for increasing oil, gas production

ASTANA. Dec 17 (Interfax) - Kazakh Prime Minister Olzhas Bektenov has asked the Energy Ministry to take measures to increase oil and gas production in the country.

"I ask the Energy Ministry to intensify measures to increase the production of natural gas and oil. It is necessary to ensure planned oil production in 2025," Bektenov said at a government meeting in Astana on Tuesday.

Earlier, it was reported that Kazakhstan would reduce oil production 2% to 80.5 million tonnes in January-November 2024. The production forecast for the year has been revised downwards for the second time in recent months and is now 87.8 million tonnes. At the same time, according to plans aired previously, annual production of more than 100 million tonnes is planned from 2026.

Bektenov told the president that "failure to achieve the forecast oil production indicators has affected the overall pace of economic development in the country".

Kazakh Energy Minister Almassadam Satkaliyev said that the decline in oil production and the revision of the forecast for the year was influenced by shutdowns for repairs at the country's largest fields, Tengiz and Kashagan.