Astana (TDI): Kazakhstan’s Ministry of Energy has lowered its 2025 oil production target by one million tons as part of the country’s commitment to meeting its obligations under the Organization of the Petroleum Exporting Countries (OPEC+) agreements.
In 2024, Kazakhstan had already dropped oil production by 2.5 million tons compared to its original plan.
The revised target for this year now stands at 96.2 million tons, down from the 97.2 million tons announced in December last year.
Despite the reduction, Prime Minister Olzhas Bektenov has instructed the Energy Ministry to take stronger steps to increase natural gas and oil production to meet planned production levels.
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Frequent revisions to production forecasts last year highlighted the current challenges in achieving production stability.
The lowered prediction is attributed to several factors, including extended maintenance shutdowns at major oilfields.
The Tengiz oilfield faced shutdowns in May and August, totaling 50 days, while the Kashagan oilfield underwent maintenance for 21 days.
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Moreover, an unscheduled shutdown happened at the Karachaganak field, according to The Times of Central Asia.
Production was further hit by limitations on gas intake at the Orenburg gas processing plant, which affected operations at Karachaganak.
Planned maintenance at the Caspian Pipeline Consortium (CPC)—the primary route for Kazakh oil exports—also affected transportation capacity.
Compliance with OPEC+ deals added to the reductions in production.
