KazMunai gas plans to raise crude output by 60pc by 2022

ASTANA: Kazakhstan's state oil and gas company, KazMunaiGas, plans to raise crude oil production by slighlty more than 60 percent over the next decade, Chief Executive Lyazzat Kiinov said on Tuesday.

KazMunaiGas plans to produce 35.4 million tonnes of crude by 2022, up from 21.9 million tonnes expected this year, Kiinov said in a presentation to an energy conference.

He said KazMunaiGas also planned to raise annual output of refined products to 19.0 million tonnes from 16.4 million tonnes over the same period, and to raise its reserves of oil and gas condensate to 1.41 billion tonnes from 779 million tonnes.