Kazakhstan Plans to Increase Oil Production to 99 Million Tons by 2027
The main source is the Karachaganak field, one of the largest in the world
Kazakhstan's authorities expect to increase oil production to 99 million tons. The target for extracting liquid hydrocarbons was announced by the head of the relevant agency, Yerlan Akkenzhenov. This new benchmark exceeds the forecasts of the financial and budgetary sector: previously, the National Bank and the draft budget were based on a more conservative figure of 96 million tons. The country is also targeting this volume (96 million tons) for the results of the current year.
The main driver for maintaining stable production will be the launch of the KEP-1B (6ICP) infrastructure project at the Karachaganak field.
As specified by First Deputy Prime Minister Nurlybek Nalibayev, by the end of the year, the sixth raw gas reinjection unit will be operational at the site. This will help stabilize production at 10–11 million tons annually.
Key facts about Karachaganak:
Cost of the 6ICP project: $735 million (estimate by the national company KazMunayGas). Last year's level: by the end of 2025, the field produced 12–13 million tons of liquid hydrocarbons. Resource base: 1.2 billion tons of oil and 1.35 trillion cubic meters of gas.
Structure of the KPO consortium (PSA until 2037): Shell (29.25%), Eni (29.25%), Chevron (18%), LUKOIL (13.5%), KazMunayGas (10%).
