U.S. forecasts increase in oil production in Kazakhstan at 100,000 barrel per day
Azerbaijan, Baku, April 14 / Trend, A. Badalova /
Oil production in Kazakhstan in 2011 will increase by 0.1 million barrels per day to 1.71 million barrels. These forecasts are produced in a monthly report of the U.S. Energy Information Administration (EIA) on the short-term energy outlook. Last month, the EIA forecasted oil production in Kazakhstan at 1.75 million barrels per day.
According to EIA forecasts, oil production in the country will increase by 0.11 million barrels per day to 1.82 million barrels per day in 2012.
In 2010, according to EIA, oil production in Kazakhstan amounted to 1.61 million barrels per day.
According to BP, the proven oil reserves in Kazakhstan amounted to 39.8 billion barrels in early 2010. According to BP, oil production in the country in 2009 amounted to 1.682 million barrels per day, which is 8.5 percent more than the volume in 2008.
Kazakhstan is home to the Tengiz and Karachanag fields, which are among the major world fields.
Tengiz field in western Kazakhstan opened in 1979. It is one of the deepest and largest oil fields in the world. In April 1993 Tengizchevroil was created after the Kazakh government and Chevron signed an agreement. At present its partners are: Chevron - 50 percent, KMG - 20 percent, ExxonMobil - 25 percent and LukArko - 5 percent.
Karachanag field in north-western Kazakhstan was opened in 1979. It is one of the largest gas condensate deposits in the world. Its estimated initial reserves of hydrocarbons hit 9 billion barrels of condensate and 1.37 trillion cubic meters of gas.