EIA expects decrease in Kazakhstan's oil output
By Aynur Karimova
Oil production in Kazakhstan will decrease to 1.71 million barrels per day in 2015-2016 compared to 1.72 million bpd in 2014, the U.S. Energy Information Administration (EIA) reported.
EIA said in its November short-term energy outlook that the daily oil production in this country reached 1.76 million bpd in the first quarter of 2015, some 1.71 million bpd in the second quarter and 1.69 million bpd in the third quarter of 2015.
EIA forecasts that the oil production in Kazakhstan will stand at 1.69 million bpd in the last quarter of 2015, while the country's maximum oil production in 2016 is expected in the fourth quarter of the year – 1.74 million bpd.
Oil production in this country is expected to reach 1.7 million bpd in the first and second quarters of 2016, and 1.71 million bpd in the third quarter.
BP’s statistical review indicates that Kazakhstan’s proven oil reserves as of early 2015 stood at 30 billion barrels.
Kazakhstan produces oil mainly from its largest Karachaganak and
Tengiz fields.
The 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 operation was suspended when a gas leak appeared from the
ground pipeline.
--
Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
Follow us on Twitter @AzerNewsAz