Kazakhstan Reaches Record Oil Production of 2.12 Million bbl/d, Exceeding OPEC+ Quota

Kazakhstan Reaches Record Oil Production of 2.12 Million bbl/d, Exceeding OPEC+ Quota

Kazakhstan has increased in February its crude oil and gas condensate production by 13% to a record of 2.12 million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported.

Excluding gas condensate, Kazakhstan’s crude oil production surged by 15.5% from January to 1.83 million bbl/d, which takes into account Kazakhstan’s tons per barrel ratio of 7.5.

Kazakhstan has exceeded its output quota of 1.468 million bbl/d under the production curbing agreement established by the Organization of the Petroleum Exporting Countries and its allies, including Russia (OPEC+).

The country has promised to cut its output and compensate for overproduction. However, it continues to boost oil production at the Chevron-led Tengiz oilfield, the country’s largest.

The Tengiz oilfield saw production increase to 904,000 bbl/d last month from 640,000 bbl/d in January, following the completion of maintenance and due to an expansion program.

Output has also increased despite last month’sĀ drone attackĀ at a pumping station on Russia’s stretch of the Caspian Pipeline Consortium (CPC), which exports around 80% of Kazakhstan’s oil.

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Doaa Ashraf 762 Posts

Doaa is a staff writer with a Bachelor's Degree in Mass Communication, majoring Journalism from Ahram Canadian University. She has 2-3 years of experience in copywriting, and content creation.

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