OPEC predicts decrease in Kazakhstan's oil production
By Aynur Karimova
OPEC predicts a decrease in energy-rich Kazakhstan’s oil supply. In its May report the organization said the decrease will amount to 10,000 barrels per day and the country's average oil supply will stand at 1.61 million bpd in 2015.
“On a quarterly basis in 2015, output will average 1.66 million bpd, 1.60 million bpd, 1.59 million bpd and 1.61 million bpd, respectively,” the report said.
Kazakhstan’s oil production declined by 10,000 bpd in March 2015 and stood at 1.67 million bpd compared to February 2015, but was slightly higher compared to March 2014.
Five out of Kazakhstan’s top 10 fields have declined in the first quarter of this year as well.
OPEC also noted that Kazakhstan’s oil supply decreased by 20,000 bpd over the previous year to average 1.62 million bpd in 2014.
On a quarterly basis in 2014, output will average 1.65 million
bpd, 1.57 million bpd, 1.61 million bpd and 1.66 million bpd,
respectively.
OPEC experts forecast that total oil supply in former Soviet Union
countries, including Russia, Kazakhstan, Azerbaijan, will decline
by 80,000 bpd in 2015 to average 13.35 million bpd.
On a quarterly basis, total supply from former Soviet Union countries in 2015 is seen to average 13.58 million bpd, 13.36 million bpd, 13.25 million bpd and 13.21 million bpd, respectively.
Kazakhstan produces oil mainly from its largest Karachaganak and
Tengiz fields.
Karachaganak field is one of the world's largest fields. Its oil
reserves amount to 1.2 billion tons while natural gas reserves are
estimated at 1.35 trillion cubic meters.
About 49 percent of Kazakhstan's gas production and 18 percent
of oil production are extracted from this field.
The Tengiz field in the west of the country, is one of the deepest
and largest oil fields in the world. Total estimated reserves
amount to three billion tons (26 billion barrels).
Another large oil and gas field - Kashagan is located in the north
of the Caspian Sea. Oil production at Kashagan started in September
2013, but its operation has been suspended when a gas leak appeared
from the ground pipeline.
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Aynur Karimova is AzerNews’ staff journalist, follow her on
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