Kazakhstan approves largest oil and gas projects development package plan for 2023-2027

The Kazakh Government approved the comprehensive plan for the development of the largest oil and gas and petrochemical projects for 2023-2027. Kazakh Prime Minister Alikhan Smailov signed the corresponding decree, Kazinform News Agency quotes the Government’s press service.

The adopted package plan is aimed at implementing 20 significant projects in oil and gas, oil and gas processing and petrochemical industries with expected investments up to 37.3 billion tenge.

The plan provides for the development of the largest oil gas projects on Tengiz, Karachaganak, and Kashagan oilfields intending to raise oil production by up to 105.5 million tons and gas up to 82.1 billion cubic meters by 2027.

Besides, the construction of gas refining plants stipulated in the plan will have a significant impact on meeting domestic needs.

Three projects will be fulfilled next year to provide the domestic market with oil products. Shymkent refinery will expand its production capacity from six to 12 million tons to produce 18 million tons of oil products a year.

Notably, the throughput capacity of the Kenkiyak-Atyrau pipeline will be expanded from six million tons per year to 12 million tons a year, and the Kenkiyak-Kumkol pipeline from 10 million tons a year to 15 million tons a year.