EIA: Kazakhstan's oil production to increase by 40,000 bpd in 2013
Kazakhstan's oil production will increase by 40,000 barrels per day (bpd) to 1.65 million bpd in 2013 compared to 1.61 million bpd in 2012, the U.S. Energy Information Administration (EIA) predicts,Trend news agency reported.
Last month EIA predicted the country's oil production for this year at 1.57 million bpd.
According to the EIA's estimates, the country produced 1.63 million bpd in the fourth quarter of 2012.
According to the EIA's forecasts, the highest level of the country's production in 2013 will be observed in the second quarter - at 1.69 mln bpd. In the first quarter, production will amount to 1.67 mln bpd, in the third - to 1.62 mln bpd, in the fourth quarter - to 1.6 mln. bpd.
In 2014 EIA predicts Kazakhstan's oil production to increase by 40,000 bpd to 1.69 mln bpd.
In the first quarter of the next year, according to the EIA's forecasts, Kazakhstan's oil production will amount to 1.66 mln. bpd, in the second quarter - to 1.68 mln. bpd, in the third quarter - to 1.69 mln. bpd, in the fourth quarter - to 1.72 mln. bpd.
According to BP, the proven oil reserves in Kazakhstan amounted to 39.8 billion barrels in early 2011.
Kazakhstan produces oil mainly from its largest oil fields - Karachaganak and Tengiz.
Karachaganak field, opened in 1997 in north-western Kazakhstan, has estimated initial reserves of hydrocarbons in the volume of 9 billion barrels of condensate and 1.37 trillion cubic meters of gas.
Tengiz field, opened in 1979 in western Kazakhstan, has estimated reserves of about 26 billion barrels.