Kazakhstan's KazMunayGas boosts oil and condensate output 1.3% to 23.8 mln tonnes in 2024

ASTANA. Jan 9 (Interfax) - KazMunayGas (KMG) produced 23.8 million tonnes of oil and condensate in 2024, the Kazakh president's press service said.

"The KMG group of companies produced 23.8 million tonnes of oil and condensate, exceeding the 2023 figure by 1.3%," according to the statement following a meeting between Kazakh President Kassym-Jomart Tokayev and KMG Management Board Chairman Askhat Khasenov.

Oil transportation in 2024 exceeded the figure for 2023 by 4% and stood at 83.6 million tonnes, Khasenov said when reporting on the company's activities in 2024.

In addition, Kazakh oil refineries refined 17.44 million tonnes of oil last year, he said. Measures were taken to increase production of light petroleum products by 370,000 tonnes compared to 2023 in order to provide for the domestic market, he said.

At the close of the meeting, Tokayev gave instructions to continue carrying out geological exploration work, implementing major investment projects and developing the petrochemical industry.

KazMunayGas is the country's national operator for the exploration, production, refining, and transportation of hydrocarbons, representing state interests in the oil and gas sector.