Kazakhstan includes some giant oilfields in output cut

Kazakhstan is reducing production at certain giant, large and medium-sized oilfields to comply with the global output cut deal, the Central Asian nation's energy ministry said on Friday.

It did not name any particular fields. Kazakhstan's three giant fields, Tengiz, Kashagan, and Karachaganak, are operated by groups of global energy majors. Kazakhstan has pledged to cut its output by 390,000 barrels per day in May and June. Sources told Reuters this week Kazakhstan was close to a deal with the operators of Tengiz and Kashagan to reduce production by 22% from May, the first time those ventures would be involved in such an output cut.

The ministry said in a statement on Friday it used a "non-discriminatory approach to all producers... taking into account the fair distribution of output reduction quotas between both large projects and mature oilfields whose output is in natural decline."