Satkaliyev: Kazakhstan strongly committed to fulfilling OPEC+ obligations

Kazakhstan is strongly committed to fulfilling its obligations within OPEC+, Kazakhstan’s Minister of Energy, Almasadam Satkaliyev, said at today's press conference, according to Report.

"I would like to emphasize that we are very serious about this. Kazakhstan will take all necessary measures to reduce [oil production]. We are prepared to use both administrative mechanisms and issues related to access to oil pipeline infrastructure. In other words, we are quite serious about ensuring that we fulfill our obligations to the OPEC+ group," Satkaliyev said.

He noted that the overproduction of oil resulted from the test launch of the Future Growth Project and the Wellhead Pressure Management Project at the Tengiz field.

"Currently, these works are ongoing, and the field is not yet planned to be brought to full capacity. According to our plans, we expect it to reach full capacity in the second half of this year," the minister said.