Kazakhstan’s state oil company KazMunaiGaz expects the country’s crude oil production to reach 90 million tonnes/year by 2015 and 130 million tpy by 2020. Lyazzat Kiinov, KazMunaiGaz management board chairman, offered the projections during his presentation to the KazEnergy Eurasian Forum. Kazakhstan produced 80 million tonnes of oil in 2010.
Kiinov also detailed KazMunaiGaz’s own strategic targets. The company has estimated oil and gas condensate reserves of 779 million tonnes in 2012 and seeks to expand this to 817 million tonnes by 2015 and 1.413 billion tonnes by 2022. Over the same increments, it plans to boost production from 21.9 million tpy to first 24 million tpy and then 35.4 million tpy.
During 2012-15, KazMunaiGaz plans to acquire 4,650 line-km of 2D seismic, 11,970 sq km of 3D seismic, and drill 435 exploration and appraisal wells. It estimates geological exploration costs for the period of $3.7 billion.
The company also plans to modernize its refining complex. Investment projects for 2012-16 include:
• Construction of an aromatic hydrocarbon production complex at the Atyrau refinery.
• Construction of a deep oil processing complex at Atyrau.
• Reconstruction and modernization of the Pavlodar refinery.
• Reconstruction and modernization of the Shymkent (PKOP) refinery.
• Addition of road bitumen production at the Aktau plastic mass plant.
The modernizations will boost overall capacity to 19 million tpy from 13.7 million tpy currently, Kiinov said. Gasoline production will jump to 6.8 million tpy from 2.8 million tpy, jet fuel to 957,000 tpy from 388,000 tpy, and diesel to 5.9 million tpy from 4.1 million tpy.
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