Crude production to decline in Kazakhstan after 2025
21:22, 16 January 2014
ASTANA. January 16. KAZINFORM If Kazakhstan fails to start development of new oil fields, its crude production will decline gradually after 2025, CEO of KAZENERGY Association Asset Magauov said.
"About 8 million tons of crude are produced in Kazakhstan annually for the past couple of years. This rate is expected to grow thanks to such ambitious projects as Kashagan, Tengiz, and Karachaganak. Onshore crude production, on the contrary, will decline gradually, in case we fail to start development of new fields or introduce new technologies," Mr. Magauov told the enlarged session of the association Thursday. "The question is: will we produce enough oil to meet the demand of domestic refineries?"