News 2016
September 2016KASHAGAN
The government expects to achieve the peak of oil production at Kashagan in 2020-2021 yrs. During these years, it is planned to produce 13 million tons of oil. "According to the anticipated scenarios no growth in oil production is expected in the years of 2020-2021 due to peak production at the Kashagan field and depletion of old fields.
However, we note that owing to the late decision on the financing of the Future Growth Project of TCO, increase in oil production at Tengiz field is expected from 2023", - stated in the explanatory notes to the draft of the national budget for 2017-2019 years, enrolled in the Majilis of the Parliament. It is planned to produce 0.5 million tons of oil in 2016 in Kashagan, in 2017 - 4 million tons, in 2018 - 7 million tons, in 2019 - 11 million tons, in 2020 and 2021 - to 13 million tons.
Under the baseline scenario, in 2017 in Kazakhstan it is expected to produce 79.5 million tons of oil in total, in 2018 - 81.5 million tons, in 2019 - 84.5 million tons, in 2020 and 2021 - 86.5 million tons of oil. However, according to the optimistic scenario, in 2017 it is expected to produce 80 million tons, in 2018 - 82 million tons, in 2019 - 85 million tons, in 2020 and 2021 - 87 million tons of oil.
According to the pessimistic scenario it is expected to produce 79 million tons in 2017, in 2018 - 81 million tons, in 2019, 2020, 2021 to - 84 million tons of oil. In the baseline scenario the price of oil in the years 2017-2019 is projected at $35 per barrel, in 2020 and 2021 - $40 and $45 respectively.