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Forecasted oil production in Kazakhstan for 2015 down 1.5 mln tonnes to 79 mln tonnes

Reduction of crude production will contribute to a decline of the country’s GDP growth by 0.22 percentage points this year

© Anatoly Ustinenko/ITAR-TASS

ASTANA, November 18. /TASS/. Forecast for Kazakhstan’s crude oil production for 2015 decreased by 1.5 mln tonnes versus 80.5 mln tonnes approved earlier, the Minister of National Economy Erbolat Dossayev said at the expanded government meeting attended by President on Wednesday.

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"[There’s been a] reduction of crude oil production by 1.5 mln tonnes from the planned volume," he said.

According to the republic’s budget for this year, the country plans to produce 80.5 mln tonnes of oil in 2015 thus, adjusted forecast of hydrocarbons’ production will stand at 79 mln tonnes.

The minister said that reduction of crude production will contribute to a decline of the country’s GDP growth by 0.22 percentage points this year.

The government projects the country’s real GDP growth to stand at 1.5% in 2015 while its nominal volume will be around $169.7 bln.

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