Kazakhstan explained the growth of oil production as part of OPEC+. On Monday, February 17 was reported in the telegram channel of the Ministry of Energy of the Republic of Kazakhstan.
The Minister of Energy of the Republic of Kazakhstan Almasadam Satkaliev held telephone negotiations with his royal highness Prince Abdulaziz Ben Salman, the chairman of OPEC+ and the Minister of Energy of the Kingdom of Saudi Arabia, and Alexander Novak, the deputy prime minister of the Russian Federation and the co-chairman of OPEC+, as well as with the Haights Al-Gais, the general secretary of OPEC, follows from the message.
During the discussion, the Satkaliev diamonds provided a technical explanation regarding the increase in oil production in Kazakhstan in January.
The minister clarified that the increase is associated with the start of oil production at the new third generation plant (ZTP) at the Tengiz oil field as part of the future expansion project.
The head of the department explained that it was previously planned that the beginning of an increase in production will begin in June-July 2025.
Satkaliev also added that the increase in production was the result of temporary one -time testing carried out after maintenance of the deposit and commissioning of a new processing installation at the Tengiz field.
The minister confirmed that Kazakhstan is still completely committed to his obligations within the framework of the OPEC+agreement, including the compensation mechanism.
Kazakhstan will take further measures to fulfill its obligations, including reducing production at other oil fields in order to compensate for the January excess, the head of the department said.
The minister also added that Kazakhstan will present an updated compensation plan, taking into account both overproduction and unfulfilled amounts of compensation in January.
The chairman and co -chair confirmed the critical importance of the full fulfillment of obligations and compensation in accordance with the OPEC+ agreement and emphasized the role of voluntary abbreviations and efforts made by several OPEC+ countries in order to maintain market stability.