Kazakhstan to boost oil production at existing fields to compensate for Kashagan losses

    Kazakhstan is looking for sources to increase oil production at its existing productive fields to compensate for the losses from the Kashagan suspension, said Minister of Economy and Budget Planning, Yerbolat Dossayev during a plenary session of the lower chamber of the Parliament, az.kz reports.
    “The Ministry of Oil and Gas together with NC KazMunaiGas JSC are seeking additional sources to increase production of oil in other fields to compensate for the current volume of loss,” said the Minister.
    The Minister noted that the budget revenue from Kashagan project is not expected as all the income goes directly to the national fund.
    "But the issue of (crude) production volumes envisaged in the 2015 socio-economic forecast of the republic remains valid. Failure to put Kashagain into operation impacts GDP," Dossayev noted, according to Ak Zhaik.