Kazakhstan to produce 100 mln tons of oil annually since 2026

Annual oil production in Kazakhstan is projected to surpass 100 million tons due to the development of large projects, Kazakh Energy Minister Almassadam Satkaliyev said at today’s Government Hour at the Majilis, Kazinform News Agency reports.

He mentioned that Tengizchevroil's expansion project, known as the Future Growth Project (FGP), called to expand oil production by 12 million tons a year. The fifth Gas Injection Compressor works were completed at Karachaganak, and the sixth compressor launch works are underway to maintain production at the field at the level of 10-11 million tons a year.

Notably, the gas refinery construction project with a capacity of 4 billion cubic meters of gas is being developed on the field. Its launch is scheduled for the end of 2028.

A gas refining plant with a capacity of 1 billion cubic meters a year is being built at Kashagan to boost crude development by 1 million tons since 2026.

Besides, the construction of a gas refining plant with a capacity of 2.5 billion cubic meters a year is predicted to increase oil production by 2 million tons. It will be put onstream in 2029.

The minister revealed crude production at three large projects will make up 70% of total crude production across the country. some 17 billion US dollars will be invested in the said projects. The oil production on the Kalamkas Khazar oilfield is predicted to peak at 4 million tons a year by 2029. 6.6 billion US dollars will be infused into the project.

Besides, 5 billion US dollars will be invested in geological exploration at prospecting sites by 2030 to produce 11 million tons of oil by 2040.