Kazakhstan will remain part of the OPEC+ oil production deal but is opening talks to revise contracts with foreign investors at its largest oil and gas fields, Prime Minister Olzhas Bektenov said on Tuesday.
Speaking at a press conference, Bektenov confirmed that while Kazakhstan has exceeded its production quota in recent months, it is not considering pulling out of the OPEC+ agreement.
“We will strive to fulfil our obligations, but with national interests in mind,” he said.
Oil exports in June reached 1.86 million barrels per day — that's about 500,000 barrels above Kazakhstan’s current OPEC+ limit. The increase is largely due to the expansion of the Tengiz oil field under the $49 billion Future Growth Project, which is expected to boost annual output by 12 million tons.
Bektenov explained that the government has limited control over production at fields such as Tengiz, Karachaganak, and Kashagan, where foreign companies hold major stakes.
“We cannot demand that our partners reduce production,” he said.
Instead, Kazakhstan has begun discussions with international firms to revise existing production sharing agreements (PSAs) in an effort to secure more national revenue from oil and gas operations.
“There is a view that the country’s interests are not fully reflected in the existing agreements,” Bektenov said, adding that any changes would be made carefully to protect the investment climate.
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Here's your AnewZ Daily Brief for 30 September 2026. These are the top five stories making headlines in Europe....
The European Union's decision to simultaneously advance accession talks with Ukraine, Moldova, Montenegro and Albania marks its most ambitious enlargement effort in more than two decades.
U.S. President Donald Trump has denied reports that he offered Iran sanctions relief and access to frozen funds in exchange for nuclear concessions.
Iranian President Masoud Pezeshkian has accused the U.S. and Israel of seeking to foment internal divisions in Iran after failing to defeat the country militarily, Iran's state news agency IRNA reported.
Ukrainian President Volodymyr Zelenskyy said on Monday that more than 8,000 North Korean troops are currently in Russia, with preparations under way to send another 10,000.
Russian strikes hit Kyiv and Ukraine’s Black Sea region of Odesa overnight into Tuesday, damaging infrastructure and civilian sites, while Moscow said it had also targeted vessels carrying military cargo.
Kazakhstan and Germany have agreed to expand cooperation in critical minerals, industry, energy and transport, with Astana seeking a greater German role in developing supply chains and higher-value production.
Russian state nuclear corporation Rosatom has proposed building a new 1,000-megawatt nuclear power unit in Armenia as Yerevan weighs competing international offers, its head Alexey Likhachev said on Tuesday.
Freight on the Baku–Tbilisi–Kars railway could soon move faster across borders after Georgia, Azerbaijan and Türkiye signed a new customs protocol aimed at cutting delays and streamlining transit.
Afghanistan and Belarus have agreed to expand health cooperation, with a focus on medicines, medical equipment and training healthcare workers, following talks between the two countries’ health ministers in Minsk on Tuesday (29 September).
Saudi Arabia is facing a widening security challenge from Yemen as Houthi forces consolidate recent territorial gains along the Red Sea coast and step up attacks on the kingdom.
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