SOCAR said that Kazakhstan planned to use BTC for its oil from the North Buzachi onshore oilfield that was developed by Chinese companies CNPC and Sinopec.

Gross Domestic Product (GDP) grew 3.6 percent in January-August this year from a year earlier backed by the growth in the non-oil sector, which grew by 5.7 percent.

The state budget's draft for the next year projects revenues at 26.407 billion manats ($15.534 billion), 8.6 percent up from revenues expected this year, and expenses at 28.974 billion manats, 12 percent up from this year's spending.

Production of oil and condensate was 711,600 bpd in August, down from 717,000 bpd a month earlier and below 718,000 bpd produced in October 2018, when members of OPEC+ agreed to reduce oil production gradually.

The oil and gas sector is projected to grow 3.2 percent, while the non-oil sector will expand by 5.2 percent in 2021.