Kazakhstan’s Ministry of Oil and Gas announces 2012 hydrocarbons production figures and 2013 outlooks

Crude and condensed gas production in Kazakhstan in 2012 made up 79.2 million tons, the Oil and Gas Ministry’s Press Service reports. Exports of crude and condensed gas in 2012 totaled 68.616 million tons. Kazakhstan-based oil refineries processed a total of 14.2 million tons of crude, 3.6% up against 2011. Gas production output in 2012 made up 40.1 billion cubic meters, 1.5% up against 2011. Gas exports made up 8.8 billion cubic meters, 3.7% up against 2011. Plans are there to produce 82 million tons of crude and condensed gas, Kazakhstan’s Oil and Gas Minister Sauat Mynbayev said at today’s extended sitting at the O&G Ministry. Crude gas production in 2013 will make up 40.5 billion cubic meters. In a separate statement Mr. Mynbayev told that this year Kazakhstan would lift the moratorium on developing new hydrocarbons deposits. The moratorium on new licenses for subsurface use was introduced back in 2008 when the Government decided to renounce PSAs. The new tax code abolishing contract stability and toughening taxes on the extraction sector came into force January 1, 2009. In November 2012 Kazakhstan’s President commissioned the Government to lift the moratorium in order to raise investment attractiveness of the country regions.