Kazakhstan expects less oil to be extracted in 2012

Kazakhstan has reduced plans for oil extraction from 83 million tons to 80 million in 2012, Minister for Economic Development and Trade Bakytzhan Sagintayev said, News Kazakhstan reports.

Mynbayev said at a session of the Nur Otan political faction that extraction had dropped at the Ozenmanaygaz Field, where oil workers held strikes last year.

Kazakhstan increased oil and gas condensate extraction this year. Ozenmunaygaz reduced extraction by over 19%, Tengizchevroil reduced extraction in December due to cuts on the power line.