KazMunayGas has reduced oil production due to ongoing repairs at the Tengiz and Kashagan fields
KazMunayGas (KMG) national oil and gas company consistently adheres to its oil production obligations under the OPEC+ Agreement, the quotas set by the Kazakh Ministry of Energy.
KazMunayGas is reducing oil production due to maintenance at Tengiz and Kashagan fields. Ongoing repairs at Tengiz and planned maintenance at Kashagan in October are affecting production levels, in line with approved quotas. Kazakhstan has updated its compensation plan for overproduction, as reported to the OPEC Secretariat. KazMunayGas reported a net profit of 549.5 billion tenge (US$1.14 billion) for January-June 2024.(Source:astanatimes)
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