Kazakhstan increased its crude oil and gas condensate production to a record high of 2.12 million barrels per day (bpd) in February.
This marks a 13% rise from January production and the surge has once again led the country to exceed its quota within the Organisation of the Petroleum Exporting Countries (OPEC+) group, reported Reuters.
The Tengiz oilfield, operated by Chevron, played a significant role in the previous instance where the country’s quota was exceeded.
Daily production at Tengiz rose from 687,000bpd in September to 699,000bpd in October.
Excluding gas condensate, crude oil production jumped by 15.5% from January, reaching 1.83 million barrels per day (mbbl/d).
Kazakhstan has consistently surpassed its output quota of 1.468mbbl/d under the OPEC+ production-curbing agreement.
Despite this, the country has committed to reducing output and compensating for overproduction, while simultaneously boosting oil production at the Chevron-led Tengiz oilfield.
According to the report, production at the oilfield increased to 904,000bpd last month, up from 640,000bpd in January, following maintenance completion and an expansion programme.
The Energy Ministry has not yet commented on these developments.
Output has continued to rise despite a recent drone attack on a pumping station on Russia’s stretch of the Caspian Pipeline Consortium (CPC), which exports around 80% of Kazakhstan’s oil.
Kazakhstan confirmed last month that oil supplies via the CPC were on schedule.
In a related development, Tengizchevroil, a 50%-owned affiliate of Chevron, has also recently commenced crude oil production from the third-generation plant at its Future Growth Project (FGP) within the Tengiz oilfield.
The FGP aims to increase the oilfield’s annual crude oil output by 12 million tonnes (mt), with total annual production projected to reach around 40mt once all facilities are operational.
“Kazakhstan’s oil output hits record high in February” was originally created and published by Offshore Technology, a GlobalData owned brand.
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