Oil production in Kazakhstan has quadrupled and will soon reach 100 million tons per year.
„Over the years of independence, we have fully realized the value of black gold. And today this industry is developing dynamically. Kazakhstan occupies a leading position in the world oil market, oil production in the country has quadrupled and will soon reach 100 million tons per year“, said the President of Kazakhstan Kassym-Jomart Tokayev at a ceremony congratulating workers in the oil and gas industry on their professional holiday.
He noted that it is planned to launch large petrochemical projects, which will create about 20,000 jobs. “The development of such large offshore fields as Kalamkas-Sea and Khazar begins with an investment volume of over $6 billion“, the Kazakh head recalled.
Tokayev emphasized that, in his opinion, “hydrocarbons will continue to play a key role in the global energy sector and, accordingly, in the energy sector of Kazakhstan“.
Kazakhstan produces an average of about 90-93 million tons of oil per year. In July, the head of the country's Ministry of Energy Erlan Akenzhenov said that by the end of the current year, oil production is expected to reach 96.2 million tons.
The participants in the “Kalamkas-Sea - Khazar“ project are JSC “National Company KazMunayGas“ (50%) and PJSC “Lukoil“ (50%). Agreements on the project have been signed, and a joint venture, the project operator, “Kalamkas - Khazar Operating LLP“, has been established for its implementation. According to plans, work on the construction of offshore platforms within the project will begin in 2026 at Kazakh shipyards.