Kazakhstan will slow the pace of oil production
Oil production in Kazakhstan will be reduced in 2027 due to the postponement of maintenance work at the country's largest field, Tengiz, from this year to next year, said the head of Kazakhstan's National Bank, Timur Suleimenov.
"In 2027, the strengthening of fiscal stimulus will be partly offset by weaker oil production dynamics due to the postponement of TCO's maintenance from 2026 to 2027," Suleimenov said at a National Bank briefing on Friday in Astana.
Later, the head of the National Bank clarified that for the current year the National Bank had considered a scenario of oil production at the level of 98 million tons, which was then revised down to 96 million tons. For 2027, the National Bank is considering in its calculations an oil production option at the level of 96 million tons.
As reported, in addition to Tengiz, maintenance at the Kashagan field in Kazakhstan was also postponed from 2026 to 2027.
Earlier, the head of Kazakhstan's Ministry of Energy, Yerlan Akkenzhenov, reported that the republic would adjust its oil production plan for 2026 downward — from 98 million tons to 96 million tons.
Source: INTERFAX.RU
