U.S. expects stable level of oil production in Turkmenistan in 2011

Oil&Gas Materials 12 January 2011 15:33 (UTC +04:00)

Azerbaijan, Baku, Jan.12 / Trend A. Badalova /

Oil production in Turkmenistan will remain stable at 0.21 million barrels per day in 2011. These forecasts are reflected in the monthly report of the U.S. Energy Information Administration (EIA) on the short-term review of the energy market.

In 2012, oil production in Turkmenistan is also forecasted at 0.21 million barrels per day. According to EIA forecasts, oil production will increase insignificantly - up to 0.22 million barrels per day only in the fourth quarter of next year.

According to EIA forecasts, the total volume of oil production in the former Soviet Union countries will hit 13.4 million barrels per day in 2011 and 13.2 million barrels per day - in 2012.

According to BP, Turkmenistan's proven oil reserves as of early 2010 hit 0.6 billion barrels. Oil production in the country, according to BP, was 206,000 barrels per day in 2009, which is 0.3 percent more than the production volume in 2008.