Kazakhstan increased the forecast of growth of oil production to 85.5 million tons

© AP Photo / Jae C. Nadovich oil. Archival photoKazakhstan increased the forecast of growth of oil production to 85.5 million tons© AP Photo / Jae C. Hong

Kazakhstan increased the forecast of growth of oil production this year by another one million tons to 85.5 million tons, said energy Minister Kanat Bozumbayev.

In October the Minister of national economy of Kazakhstan Timur Suleimenov, representing the government an updated forecast of macroeconomic development for 2017, said that the forecast of oil production increased from 81 to 84.5 million tons due to over-fulfillment of production plan in three major fields.

«In 2017 it was planned to produce 81 million tons of oil, in fact oil production is projected in the amount of 85.5 million tons mainly due to major projects — Kashagan, Tengiz and Karachaganak,» Bozumbayev said in an interview with the official newspaper «Kazakhstanskaya Pravda» published on Wednesday.

According to the head of the energy Ministry, this year the main indicators overseen by the Ministry of industries stable and show a positive trend. So, over the past 10 months the volume of oil production amounted to 71,1 million tons, 11.4% more than last year. The volume of extracted gas reached 43.5 billion cubic meters, which is 15.6% above the same period of 2016. Made of 86.6 million tons of coal (growth on 11,6%) produced is 83.1 billion kWh of electricity (by 9.8% more than the same period in 2016).

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