Kazakhstan cut its oil production (excluding gas condensate) by 3% on a daily basis in May compared to April to 1.55 million barrels per day (bpd), Reuters calculations based on data from two sources familiar with preliminary data showed on Monday.
Oil production in Kazakhstan in May was in line with the country's quota under the OPEC+ agreement, also taking into account a voluntary reduction of 78,000 bpd. The country’s energy ministry did not immediately reply to a Reuters request for comment.
The decline in Kazakhstan’s oil production in May compared to April was mainly due to output reduction at large oil fields: at Kashagan, by 8% due to the accumulation of hydrogen sulfide in two wells; at Karachaganak, by 6%; at Tengiz, by 1%; and at the fields of Kazmunaigaz, by 4%, according to sources familiar with the data.
Scheduled maintenances at large oil and gas fields in Kazakhstan will be held this year in August, at Tengiz, and in October, at Karachaganak.
(Reporting by Reuters)