OREANDA-NEWS. The Ministry of Energy of Kazakhstan intends to limit oil production in medium and large fields of the country in May-June under the OPEC+ agreement. This was reported by the press service of the Ministry of Energy of the Republic on Friday.

"The Ministry has developed a draft government decree" On introducing temporary restrictions on the use of subsoil plots for exploration and production and hydrocarbon production operations "with a list of individual subsoil plots for which it's necessary to limit oil production for May - June of the current year", the report said.

It was noted that the list of subsoil resources didn't include small and small deposits, for which a natural decline in production is expected due to economic factors. "This resolution provides for a non-discriminatory approach to all producing companies, taking into account the needs of the domestic market of Kazakhstan in the required volumes of petroleum products, as well as a fair distribution of obligations to reduce oil production both for large projects and for old fields at the stage of a natural decline in production", explained in the ministry.

Under the OPEC+ agreement, which provides for a collective reduction in oil production by 9.7 million barrels per day for two months, Kazakhstan has committed to reduce production by 390 thousand barrels per day.