Kazakhstan hopes to avoid production decline before launching of a giant Kashagan field in 2016, counting on the biggest manufacturer Tengizchevroil, Reuters quoted Magzum Mirzagaliyev, Kazakhstan Deputy Energy Minister, as saying.
Last year Kazakhstan increased oil production from 79.1 million tons last year up to 81.7 million tons and counted on a significant growth of oil production in 2014 – as minimum 8 million tons owing to launching of a giant Kashagan field.
However, Kashagan has failed to be launched, because of series of accidents. The Kazakhstan authorities promised growth of production by as minimum 1.5 million tons at the expense of other companies, but later reduced the forecast down to the last year’s level.
– The oil production for this year remained 81.8 million tons. We expect that we will fulfill our plan. Today we are looking for the additional resources, in particular, Tengizchevroil company has a great influence here, Mirzagaliyev said.
He said that in 2015 oil production in the country will remain at the level of year 2014.
Tengizchevroil has the production plan of 27 million tons in 2014, said Vice Minister. During 6 months this year Tengizchevroil reduced production of hydrocarbons by more than 4%.
In 2013 Tengizchevroil increased oil production in 2013 from 24.2 million in 2012 up to 27.1 million tons. The company plans to increase oil production up to 39 million tons in 2019.
*50% in Tengizchevroil capital is owned by the US Chevron, 25% by US ExxonMobil, 20% by state company Kazmunaigas and 5% by daughter company of Russian LUKoil – Lukarco.
