Kazakhstan May Send 15 Per Cent Of Tengiz Oil To Domestic Market
Kazakhstan may send 15 per cent of Tengiz oil to the domestic market , Kazinform correspondent reports.
“Supply of oil to the domestic market is provided by the provisions of the production sharing agreement. According to this agreement in the case of a deficit the state has the right to acquire up to 15 per cent of contractor’s oil to meet the challenges of internal deficit,” the press-service of the Ministry of Energy reported revealing some provisions of the agreement.
It should be reminded that oil production at Tengiz oilfield amounts to 27 million tons of light oil. In 2016, the construction began of the third generation plant. After its completion oil production at Tengiz will reach 39 million tons a year. All of Tengiz oil is exported, as there is no deficit at domestic refineries in Kazakhstan at the moment.