Kazakhstan aims to increase crude and gas condensate production by nearly 25% to 2.155 million b/d by 2025, according to the country’s development strategy released Tuesday. Kashagan and Tengiz key to increase Revamp of refining facilities, changes to export tax Strategy based on $55/b for Brent The mid-term increase in the output will be underpinned by development of the giant Kashagan oil field in the Caspian Sea and the future expansion of the Tengiz project, according to the strategy, which was posted on the government’s official website. The output forecast is based on the assumption of a Brent oil price of $55/b, according to the document which was approved by President Nursultan Nazarbayey. The country’s production amounted to 86.2 million mt, or around 1.731 million b/d in 2017, up 10.5% year on year, mainly due to a rise in production at Kashagan. Article continues below… Download our special report: […]