Oil production plan for 2018 is 87 mn tonnes - Bozumbaev
The plan for oil production in 2018 is 87 million tonnes, RK Energy Minister Kanat Bozumbayev said at a meeting of the Ministry.
"Oil production in 2017 was 86.2 million tonnes, which is 10.5 percent more on-year. The largest oil production volume was provided by the Atyrau and Mangistau oblasts, and in 2018 the oil production plan is 87 million tonnes," Bozumbaev said.
The minister ascribed the main increase in oil production in 2017 to the stable growth of the Kashagan field.
"This year, the main increase is expected due to this field, Kashagan's production plan for the year 2018 is about 11 million tonnes," he added.
The forecast for 2018, Bozumbaev went on to say, is to be about $55-60 per barrel. One of the key events in 2017 was the expansion of the capacity of the CPC (Caspian Pipeline Consortium) up to 52 million tons in Kazakhstan’s section. Technically, the oil export capacity is about 100 million tonnes, Bozumbayev said.
