Home > News > Content

Kazakhstan's Oil Production Grew 4.7 Percent In 2018

Jan 23, 2019

Astana, China news agency, December 26 (reporter wen longjie) kazakhstan is one of the world's major oil exploration countries.Kazakhstan produced about 90.3 million tons of oil in 2018, up 4.7 percent from last year, according to official data.


Kazakhstan has successfully completed its crude oil exploration plan in 2018, with a total output of 90.3 million tons, including 71.5 million tons of exports, accounting for nearly 79 percent of the total, kazakh energy minister kazubayev bozumbayev told the media in astana, kazakhstan's capital, on Tuesday.


Mr Pozumbayev noted that kazakhstan's oil production this year was up 4.7 per cent from 2017, with all three major fields producing more oil than last year.Among them, the production of kashagan oilfield is 13.2 million tons, an increase of more than 20%.Tianjizi oilfield produced 28.6 million tons, an increase of more than 3%.The karachaganak field produced 12.1 million tons, an increase of 0.8 percent.


In particular, he said, production from the kashagan field will gradually increase over the next three years to 450,000 barrels a day.Kashagan oilfield, located on the northern continental shelf of the Caspian sea, is the largest oilfield in kazakhstan and began commercial production in November 2016.


The kashagan field is currently producing 330,000 barrels a day.Some local media quoted professional analysts as saying that as one of the largest oil fields discovered in the last 40 years, the adjustment of the production volume of kashagan oil field will have a certain impact on the international crude oil price.


Mr Pozumbayev also revealed that the kazakh government had set a target of 89.5m tonnes of oil in 2019, down 0.9 per cent from 2018.


In addition, kazakhstan's natural gas production in 2018 is also "outstanding".According to bozumbayev, kazakhstan will produce 54.8 billion cubic meters of natural gas this year, exceeding its target.Among them, commercial natural gas production reached 33 billion cubic meters, an increase of 4.4%.