Kazakhstan Oil Output Is Forecast To Increase Up To 81 Million Tons In 2017
Oil production in Kazakhstan over 2017 is expected by the Asian Development Bank (ADB) to rise by 3.8% to 81 million tons, with 5 million tons likely to be produced at the Kashagan oil field.
In addition, a $36.8 billion expansion of the Tengiz oil field planned since 2016 is projected to raise crude oil production by 260,000 barrels per day, the Bank said in its Asian Development Outlook 2017.
Kazahstan’s industry is forecast to grow by 2.4% in 2017 and 2.2% in 2018 with higher infrastructure spending and increased production of oil and gas condensate.
Agriculture is expected to grow by 3.5% in 2017 and 4.0% in 2018, reflecting a new state support program that should boost wheat and livestock production.
Services are projected to rise by 1.9% in 2017 and 1.8% in 2018 with higher outlays for social programs and growth in wholesale and retail trade forecast at 1.7% in 2017 and 1.5% in 2018.