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OPEC: Oil production falls slightly in Kazakhstan

Oil&Gas Materials 25 June 2015 15:45 (UTC +04:00)
Kazakhstan decreased oil production by 2 percent to 1.345 million barrels per day in 2014, the Organization of the Petroleum Exporting Countries (OPEC) says in its Annual Statistical Bulletin.

Baku, Azerbaijan, June 25

By Elena Kosolapova - Trend:

Kazakhstan decreased oil production by 2 percent to 1.345 million barrels per day in 2014, the Organization of the Petroleum Exporting Countries (OPEC) says in its Annual Statistical Bulletin.

Oil production reached 1.373 million barrels per day in Kazakhstan in 2013.

Kazakhstan's oil demand increased by 2.3 percent from 287,900 barrels per day to 294,500 barrels per day in the reporting period, OPEC said.

Kazakhstan's proven crude oil reserves remained at the level of 30 billion barrels, according to the OPEC's bulletin.

Active rigs number decreased by two to 57 in the country in 2014, while the refining capacity remained at the level of 345,100 barrels per day as it was in 2013, according to the OPEC.

Kazakhstan's refinery throughput increased by 0.6 percent from 297,600 barrels per day in 2013 to 299,400 barrels per day in 2014.

Output of refined petroleum decreased by 5.3 percent to 333,600 barrels per day in 2014 from 352,100 barrels per day in 2013, the report said.

Kazakhstan produces oil mainly from its largest oil fields - Karachaganak and Tengiz.

Karachaganak field is one of the world's largest fields. Its oil reserves amount to 1.2 billion tons, natural gas - 1.35 trillion cubic meters. About 49 percent of Kazakhstan's gas production and 18 percent of oil production are extracted on this field.

The Tengiz field in the west of Kazakhstan 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 Kazakh oil and gas field is Kashagan located in the north of the Caspian Sea. Oil production at Kashagan started in September 2013, but its operation was suspended after a gas leak appeared from the ground pipeline stretching from the Island D to the Bolashak plant. The government said the replacement of pipes will take at least two years.

Edited by S.I.

Follow the author on Twitter: @E_Kosolapova

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