Image by Uladzislau Petrushkevich via Unsplash
Kazakhstan increased its crude oil production by 10% in September, reaching 6.55 million tonnes, surpassing its OPEC+ quota, according to information reported by Reuters. This marks another instance where the Central Asian nation has struggled to stay within the output limits set by the OPEC+ agreement.
Although Kazakhstan’s current production quota under the OPEC+ arrangement is 1.468 million barrels per day (bpd), the country often exceeds this target. OPEC+ relies on data from secondary sources such as think tanks and consultancies, which use a barrel-to-tonne conversion ratio of 7.5 to 7.6. Based on this method, Kazakhstan’s oil output in September reached 1.638 million bpd, surpassing the quota by 170,200 bpd. Even using a lower conversion factor of 7.3, which Kazakhstan has applied in the past, the country still exceeded its limit by 126,500 bpd, producing 1.6 million bpd, according to Reuters’ calculations.
In response to these figures, Kazakhstan’s energy ministry confirmed that September’s crude oil production, excluding gas condensate, was in line with targets. The ministry added that efforts to offset its previous overproduction were ongoing, in line with a plan agreed with OPEC+. The plan includes significant reductions in October due to maintenance activities at the Kashagan oil field, which halted production temporarily.
Kazakhstan has pledged to address its excess production by September 2025, offsetting the surplus generated during the first half of 2024. During a recent OPEC+ meeting, Kazakhstan, Iraq, and Russia confirmed that they had met their compensation requirements for September in accordance with the agreed timelines.
September’s rise in production was largely driven by a 30% increase in output at the Tengiz field, which reached 687,160 bpd following maintenance operations. This contrasts with August, when production fell to 1.450 million bpd from 1.565 million bpd due to similar maintenance work at the same field. Following its overproduction in early 2024, Kazakhstan began addressing this excess in July, as required, , with full adjustments expected by September 2025.
