Kazakhstan to increase oil production up to 105 million tons by 2025

AKIPRESS.COM - Oil production will be increased up to 105 million tons in Kazakhstan by 2025, Minister of Energy Kanat Bozumbayev said during the celebrations of the 120th anniversary of the Kazakhstan's oil, Kazinform reports.
According to him, a number of wide-scale and long-term engineering and technical projects are being implemented in oil and gas sector.
In oil sector, the main growth of investments in medium term period in the volume of 44.5 billion dollars falls to implementation of three projects: expansion of Tengiz oil field (36.8 billion dollars), expansion of the 1st phase of Kashagan (2 billion dollars) and continuation of oil production in Karachaganka (4.5 billion dollars).
In Tengiz, more than 46 thousand Kazakhstanis work. The project of future expansion will provide a significant growth of oil in Tengiz.
The Minister said that the project will exceed the annual level by 12 million tons from 2023.