Kazakhstan's crude oil and gas condensate production surged by 13% in February compared to the previous month, reaching a record high of 2.12mn barrels per day (bpd), Reuters reported. The country once again surpassed its OPEC+ production quota despite previous commitments to cut output.
Excluding gas condensate, Kazakhstan’s crude oil production climbed by 15.5% from January, reaching 1.83mn bpd. This continues a trend of exceeding the country’s OPEC+ quota of 1.468mn bpd, which was set under a production-limiting agreement with the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia.
A key factor behind the rise was increased output at the Chevron-led Tengiz oilfield, Kazakhstan’s largest, which ramped up production to 904,000 bpd in February from 640,000 bpd in January. The boost followed the completion of maintenance and progress on an expansion program, the source said.
The Kazakh government has pledged to curb output and compensate for overproduction, but oil production continues to rise. The energy ministry has not yet responded to requests for comment.
The increase comes despite disruptions such as last month’s drone attack on a pumping station along the Russian section of the Caspian Pipeline Consortium (CPC), which transports approximately 80% of Kazakhstan’s oil exports. Authorities stated that CPC shipments remained on schedule.
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