Kazakhstan exceeds OPEC+ oil quota in January due to Tengiz expansion project testingKazakhstan surpassed its OPEC+ oil production quota in January 2025, citing a temporary testing phase linked to the launch of the Future Growth Project (FGP) at the Tengiz oil field, according to the country’s Ministry of Energy.Energy Minister Almasadam Satkaliyev addressed the situation in discussions with key OPEC+ figures, including Saudi Energy Minister Prince Abdulaziz bin Salman, Russian Deputy Prime Minister Alexander Novak, and OPEC Secretary-General Haitham Al-Ghais."The Minister clarified that the production increase was tied to the commissioning of a new third-generation plant (TGP) at Tengiz as part of the FGP. The surge resulted from post-maintenance testing and the activation of a new processing unit at the field," according to the statement.Kazakhstan had committed to maintaining its OPEC+ production quota of 1.468 million barrels per day (b/d) for the first quarter of 2025. However, in January, the country produced 1.5 million b/d, exceeding the quota by 32,000 b/d.The Tengizchevroil (TCO) consortium, which operates the Tengiz field, announced the start of production under the expansion project on January 24, 2025. Daily output at Tengiz reached 870,000 barrels in January, marking a 45% increase compared to the 2024 average. The FGP is expected to boost Tengiz’s annual crude oil production by 12 million tonnes.Tengiz, one of Kazakhstan’s largest oil fields with reserves of 3.1 billion tonnes, is located in the Atyrau region. TCO’s shareholders include Chevron (50%), ExxonMobil (25%), KazMunayGas (20%), and LUKOIL (5%) (ICE ALMATY)

Fonte notizia: INTERFAX