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Kazakhstan's oil production to decrease, OPEC says

12 June 2015 11:45 (UTC+04:00)
Kazakhstan's oil production to decrease, OPEC says

By Aynur Karimova

OPEC predicts a decrease in energy-rich Kazakhstan’s oil production in 2015.

In its monthly report published on June 10 OPEC said Kazakhstan's oil supply is expected to decrease by 10,000 barrels per day to average 1.61 million bpd in 2015.

In April Kazakhstan's oil output declined by 54,000 bpd to 1.61 million bpd.

"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," OPEC noted.

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 Twitter: @Aynur_Karimova

Follow us on Twitter @AzerNewsAz

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