Kazakhstan Slows Oil Production Pace Amid Tengiz Field Maintenance

Kazakhstan's oil production is expected to slow down in 2027 due to maintenance work at its largest field, Tengiz. The head of Kazakhstan's National Bank, Timur Suleimenov, explained that the strengthening of fiscal stimulus will be partly offset by weaker oil production dynamics.

The postponement of maintenance from this year to next year is expected to reduce oil production in 2027. The National Bank has considered a scenario of oil production at the level of 96 million tons for both 2026 and 2027.

This news comes after the head of Kazakhstan's Ministry of Energy, Yerlan Akkenzhenov, reported that the republic would adjust its oil production plan for 2026 downward from 98 million tons to 96 million tons.