Kazakhstan is expected to produce 90.5 million tons of oil in 2023, which is 7% higher than in 2022. The largest increase in production is expected in the West Kazakhstan and Atyrau regions, where production is expected to grow by 9% and 7%, respectively, Turanews.kz reports.
Gas production is also expected to increase in 2023, reaching 53.5 billion cubic meters, which is 1% higher than in 2022. The largest share of gas production will come from the Atyrau and West Kazakhstan regions.
Kazakhstan and China have also agreed to cooperate in the field of oil and gas exploration, pipeline transportation, and oil refining. The joint venture will carry out geological exploration of the subsoil at five sites: Zharkyn, Bolashak, Northern Ozen, Berezovsky, and Mugodzhary. The countries are also planning to study the project to expand the throughput capacity of the Kenkiyak-Atyrau and Kenkiyak-Kumkol oil pipelines. The resource base, sales market, and business models for increasing production at the Shymkent refinery will also be analyzed.
This cooperation is expected to boost the oil and gas industries in both countries and help to meet the growing demand for energy.
