An official from Kazakhstan stated that crude oil production has returned to normal levels after an incident at the country's largest oil field.
The country's Energy Minister said on Monday that daily crude output from the Tengiz field, which had previously experienced a reduction, has now been restored to 290,000 tonnes.
Kazakhstan's daily crude production accounts for 2% of global supply, with the oil primarily transported via the Caspian Pipeline Consortium to Russia's Novorossiysk port.
Using a conversion rate of 7.5 barrels per tonne, the country's daily output of crude and condensate is approximately 2.175 million barrels.
Two industry sources revealed to media last Friday that an incident occurred at the Chevron-operated Tengiz field on May 26, leading to a significant drop in crude production.
A Chevron joint venture issued a statement last Friday, noting that a minor operational fault occurred at part of the Tengiz field's facilities on May 28. Work to restore production began at that time, though further details were not disclosed.
On Monday, the field operator, Tengizchevroil, indicated that production had nearly returned to normal operating levels following a brief equipment malfunction on May 28.
One industry source reported that daily output from the Tengiz field had recovered from 310,000 barrels on May 28 to approximately 900,000 barrels by May 31. The same source also mentioned that Kazakhstan's average daily production of crude and condensate in May was 2.1 million barrels, lower than the 2.16 million barrels recorded in April.
The Tengiz field is located in the far west of Kazakhstan, along the Caspian Sea coast. The field experienced a production shutdown in January of this year due to a power distribution issue, with full capacity not restored until April.
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