NUR-SULTAN, Kazakhstan – The volume of oil production in Kazakhstan for the duration of the final seven months amounted to 52.23 million tonnes, which means it has implemented the state’s program by 101.two%, Kazakhstan’s Power Minister Kanat Bozumbayev told the President Kassym-Zhomart Tokayev on 13 August.

“Three huge oil projects accounted for 31.six million tonnes,” the minister mentioned, adding that 7.two million tonnes had been developed in Kashagan, 17.five million tonnes in Tengiz, and about six.9 million tonnes in Karachaganak.

Because June, immediately after the overhaul of the Kashagan oil field, the production volume reached a steady higher level of about 380,000 barrels per day.

According to the benefits of the previous 7 months, gas production amounted to 33.1 billion cubic metres or 101.eight% of the program commodity gas production – 19.six billion cubic metres or 104.eight% of the program.

Also at the meeting, Bozumbayev informed Tokayev about investments in the power sector. The principal improve in investment in the quantity of $44.five billion came from the implementation of 3 huge oil and gas projects: the future expansion of the Tengiz project ($38 billion) and projects to extend the level of production at Karachaganak ($four.five billion).

The Tengiz Future Expansion Project will permit to obtain a quantum leap in production, namely, to improve the annual level right away by 12 million tonnes from 2023.

Eight investment projects with a total worth of $12.three billion are beneath implementation in the petrochemical business.

At the exact same time, Polypropylene and Polyethylene projects are the biggest polymer production projects amongst neighbouring nations. The volume of investments in the two projects amounts to $9 billion.