MOSCOW, May 23 (Reuters) - Kazakhstan will likely exceed
its original oil output plans for 2024 of 96.2 million tons due
to expansion at the Chevron ( CVX )-led Tengiz field, Energy
Minister Erlan Akkenzhenov was quoted as saying, defying
pressure from OPEC+.
Kazakhstan has cited rising output at Tengiz field as the
reason why it has persistently exceeded quotas set by OPEC+,
which consists of the Organization of the Petroleum Exporting
Countries and allies including Kazakhstan and Russia.
Akkenzhenov was quoted by Russian state news agency TASS as
telling a podcast late on Thursday that the expansion at Tengiz
had been brought forward ahead of schedule this year, raising
output there by 25%.
Therefore, he said, "we will probably finish the year
higher" than the planned production level of 96.2 million tons,
which is equivalent to around 2 million barrels per day (bpd).
The Kazakh energy ministry did not immediately reply to a
request for comment. The country's energy ministry has
repeatedly said it is committed to the OPEC+ agreement.
Under the latest OPEC+ agreement, Kazakhstan's OPEC+ quota
for May rose to 1.486 million bpd from 1.473 million bpd in
April.
Western oil majors, including Shell, TotalEnergies
and Eni, as well as ExxonMobil ( XOM ) and
Chevron ( CVX ), are active in oil projects in Kazakhstan.