27 Nov 2023 10:50

Kazakhstan sees 15% drop in daily oil production

ASTANA. Nov 27 (Interfax) - Kazakhstan's daily oil and gas condensate has declined.

The Energy Ministry's situational analytical center of the fuel and energy sector reported on November 26 that the country's daily production of oil and gas condensate had dropped to 214,500 tonnes.

The day before, November 25, daily production was 253,100 tonnes, and on November 24, totaled 254,400 tonnes. Thus, daily production on the November 26t decreased 15.3% compared to the November 25.

Daily oil production in Kazakhstan has declined due to the suspension of shipments at the Caspian Pipeline Consortium (CPC) sea terminal because of unfavorable weather conditions, Shyngys Ilyasov, adviser to the head of the Ministry of Energy of Kazakhstan, told Interfax.

"We have noted a decrease in daily production due to the suspension of oil shipments at the CPC marine terminal as a result of unfavorable weather conditions," he said.

As previously reported, the Caspian Pipeline Consortium had stopped loading oil at the sea terminal.

"Currently, extremely unfavorable weather conditions have developed in the Novorossiysk area: winds are up to 22-24 m/s (79.2 km/h), and wave height is forecast at 6-8 meters. The captain of the Novorossiysk seaport announced a storm warning, according to which "at the CPC marine terminal, oil loading has been stopped, while tankers have been diverted to waiting areas. The company's tank farms are almost full. In this regard, oil is being received from shippers at reduced rates," the statement says.

In November, the port repeatedly announced storm restrictions on transshipment, to which the consortium strictly adhered.

The CPC pipeline connects the oil fields of western Kazakhstan and Russian fields on the Caspian shelf with the marine terminal in Novorossiysk. Its length is 1511 km. The system is the main export route for Kazakh oil.

In 2022, CPC shipped 58.7 million tonnes of oil for export. The projected transshipment volume for oil in 2023 is 63.7 million tonnes.

In 2023, Kazakhstan's oil production target is 89 million tonnes.