Kazakhstan’s Energy Minister Almassadam Satkaliyev has discussed January oil production figures in the country during phone conversations with OPEC+ Chairman and Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, Russian Deputy Prime Minister and OPEC+ Co-Chairman Alexander Novak, and OPEC Secretary General Haitham Al Ghais, Report informs via the press service of Kazakhstan’s Ministry of Energy.
“During the discussion, Satkaliyev explained the reasons for the increase in oil production in Kazakhstan in January. The minister clarified that this is related to the start of oil production at the new Third Generation Plant (TGP) at the Tengiz oil field as part of the Future Growth Project. The minister noted that the production increase, which was previously planned to begin in June-July 2025, resulted from one-time testing conducted after field maintenance and the commissioning of a new processing facility at the Tengiz field,” the statement says.
Satkaliyev also reaffirmed Kazakhstan’s full commitment to its obligations under the OPEC+ Agreement, including the compensation mechanism.
“He noted that Kazakhstan will take further measures to fulfill its obligations, including reducing production at other oil fields to compensate for January’s excess. The minister also added that Kazakhstan will present an updated compensation plan that will account for both overproduction and unfulfilled compensation volumes for January,” the statement reads.
