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Kazakhstan could cut 2022 oil output target – energy minister
NUR-SULTAN. Sept 14 (Interfax) – Kazakhstan’s outlook for oil production in 2022 could be revised downward following a decline in oil output at the Kashagan project, Energy Minister Bolat Akchulakov said.
"It could be [revised downward], of course," Akchulakov said when asked whether the reduction in oil output at Kashagan could affect the 2022 outlook.
"The current target for this year is about 85.5-85.7 million tonnes. We plan to lower it for this year," Akchulakov added.
As previously reported, production operations at the Kashagan field were suspended on August 3 following the detection of a gas leak at the Bolashak plant for the integrated processing of oil and gas.
The North Caspian Operating Company (NCOC) consortium, the operator of the Kashagan project, announced that it would start resuming production gradually during the night of August 9-10. Akchulakov in early September said that oil output at Kashagan had not been fully resumed yet, and that the inspection at the field should be completed around September 20.
The Kashagan field is Kazakhstan’s first offshore oil and gas field in the Caspian Sea. It is the largest international investment project in the country. Commercial operation at Kashagan began in the autumn of 2016.
NCOC is owned by KMG Kashagan B.V. (16.877%), Shell Kazakhstan Development B.V. (16.807%), Total EP Kazakhstan (16.807%), Agip Caspian Sea B.V. (16.807%), ExxonMobil Kazakhstan Inc. (16.807%), CNPC Kazakhstan B.V. (8.333%), and Inpex North Caspian Sea Ltd. (7.563%).
