Kazakhstan's Energy Minister Explains Oil Production Surge to OPEC+ Leadership
Photo: Elements.envato.com, ill. purposes
Kazakhstan's Energy Minister Almasadam Satkaliyev met with OPEC+ leadership to discuss the country's oil production exceeding agreed quotas, reports Orda.kz.
The Ministry of Energy confirmed that the call included Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman, Russian Deputy Prime Minister Alexander Novak, and OPEC Secretary General Haitham al-Gaith from Kuwait.
Satkaliyev was asked to explain the increased oil production at the start of 2025.
According to the Ministry's statement, Satkaliyev attributed the production increase to the early launch of a third-generation plant (TGP) at the Tengiz oil field, part of a future expansion project.
The Minister clarified that oil production at Tengiz began ahead of the planned June-July schedule.
The production spike was a one-time event following the new processing unit's launch, testing, and servicing.
Kazakhstan remains fully committed to the OPEC+ agreement, including the compensation mechanism. We will take steps to meet our obligations by reducing production at other oil fields to offset January's excess, Satkaliyev stated.
The country will submit an updated compensation plan to OPEC+ for January's increased Tengiz production.
This marks the second time the Energy Ministry has addressed the Tengiz situation and quota non-compliance.
Kazakhstan's consistent overproduction has raised concerns among OPEC leadership, with some international analysts suggesting it could strain relations between Kazakhstan and the organization.
Original Author: Nikita Drobny
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