Kazakhstan ups its forecast for oil production in 2017
The country's Energy Minister Kanat Bozumbayev told Kazakhstanskaya Pravda newspaper that the increase became possible due to large projects, such as Kashagan, Tengiz and Karachaganak.
According to him, this year the main indicators are stable and show positive dynamics. In particular, in January-October oil production was recorded at 71.1 million tons, which is 11.4% more than in the same period last year, natural gas - 43.5 billion cubic meters (15.6% increase vs 2016), coal - 86.6 million tons (11.6% increase vs 2016). The Minister added that over the 10 months of 2017, Kazakh energy sector produced 83.1 billion kWh of electricity (9.8% increase vs 2016).
Kanat Bozumbayev also reminded that this year it is planned to finish the reconstruction and renovation of the Atyrau oil refinery and the Pavlodar petrochemical plant.
Modernization of Shymkent refinery, according to him, will be completed in the first half of 2018. The Minister noted that these efforts should result not only in increased in capacities for in-depth processing and production of light petroleum liquids but also an increase in their quality to Euro-4 and Euro-5.
Kanat Bozumbayev added that in 2018, the Ministry of Energy plans to continue implementing the tasks set by the Head of State in the 100 Concrete steps plan, as well as taking measures to supply the domestic market with oil products and preventing unjustified prices hikes for strategic products such as coal, gas, mazut, and diesel fuel.
The Ministry will also continue its cooperation with large subsoil users in the framework of expanding the Tengiz and Karachaganak projects and increasing the capacity for re-injection of gas (Kashagan), aimed at boosting oil production.