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Kazakhstan's KazMunayGas eyes significant gas production surge by 2030

2 March 2024 11:25 (UTC+04:00)
Kazakhstan's KazMunayGas eyes significant gas production surge by 2030

KazMunayGas JSC (KMG, Kazakhstan's national oil and gas company) plans to increase gas production, as stated in a statement of the Chairman of the Board of KMG Magzum Mirzagaliyev, published by the press service of the joint-stock company, Azernews reports.

"In addition to active geological exploration and stabilization of oil production levels, the company’s priority is to increase gas production and its commercialization. KMG is actively working to explore and launch new fields. We understand the importance of gas production for Kazakhstan. Consumption in the country is growing rapidly. Therefore, we have now begun developing the company’s Gas Strategy, within the framework of which it is planned to increase gas production from both operating and exploration assets," he said.

As Mirzagaliyev noted, at the moment, the growth potential, according to KMG estimates, could amount to an additional 6.7 billion cubic meters of gas per year by 2030, excluding large projects (Tengiz, Karachaganak, Kashagan).

"Last year, we already launched three new gas fields: Rozhkovskoye in the West Kazakhstan region, Aksay Yuzhny in the Kyzylorda region and Eastern Urikhtau in the Aktobe region," he said.

According to him, in addition to the listed projects, the Gas Strategy includes the Central Urikhtau field with a production potential of up to 900 million cubic meters of gas per year, the Western Prorva and Kalamkas fields (up to 1.1 billion cubic meters per year).

"KMG is also implementing exploration projects that could potentially increase the level of natural gas production: the Karaton Podsolevoy and Turgay Paleozoy areas, where, as I have already noted, exploration wells are planned to be drilled in 2024," Mirzagaliyev noted.

Meanwhile, the volume of oil and gas condensate production by KazMunayGas amounted to 23.5 million tons (486,000 barrels per day) in 2023. The volume of oil and gas condensate production grew by 6.5 percent from 2022.

At the same time, natural and related gas output climbed by 14.8 percent over the reporting period, reaching 9.45 billion cubic meters.

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