KazMunaiGas to raise crude output by 60% by 2022

The Kazakhstani National Petroleum Company KazMunaiGaz plans to raise its production of oil and gas condensate from the current level of 21.9 million tonnes to 35.4 million tonnes by 2022, Company CEO Lyazzat Kiinov said at the Seventh Eurasian KazEnergy Forum, which opened here on Tuesday. In his words, “even under the most pessimistic scenario and possible decline of the world’s prices, the plans will be implemented.” The consolidated reserves of KazMunaiGaz are expected to reach 1.5 billion tonnes by 2022, Kiinov said. The Seventh Eurasian KazEnergy Forum is devoted to the development of global partnership in the spheres of energy and security, geological surveys, oil processing and petroleum chemistry, as well as renewable energy resources and the atomic energy area. More than 100 delegates from 60 countries took part in the forum. Among the participants in the forum are Kazakhstani Prime Minister Serik Akhmetov, ministers and heads of the national companies Kazatomprom and KazMunaiGaz. The participants in the forum were planned to hear reports of Italy’s ENI CEO Paolo Scaroni, the US’ Exxon Mobil Senior Vice President Mark Albers, France’s Total senior vice president for the countries of continental Europe and Central Asia, as well as several experts from the world’s leading energy research agencies.