Kazakhstan - 02

Kazakhstan: Astana Confirms Intent to Boost Oil Production

Last week Minister of Energy Vladimir Shkolnik and Deputy Minister of Energy Uzakbay Karabalin made separate important announcements regarding the status of the Tengiz oil field and the Kazakh government’s plans to boost oil production. On 23 February Shkolnik announced that the final decision on financing for the Future Growth Project at the Tengiz oil field will be made no later than the end of 2015. On 25 February Karabalin reported that the country plans to increase current oil production to 86mn tons in 2017 and to 104mn tons by 2020.

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