Azerbaijan, Baku, April 16 / Trend A.Badalova /
Kazakhstan's oil production in 2011 will increase by 60,000 barrels per day - up to 1.65 million barrels per day, OPEC's April report on oil market reads. The growth rate of the country' oil production is higher by 10,000 barrels per day than the level forecasted by the cartel last month.
The increased forecast reflects the updated data on the country's oil production in the first quarter.
The highest level of oil production in the country in 2011 will occur in the fourth quarter - 1.68 million barrels per day. In the first quarter, Kazakhstan's oil production will be 1.67 million bpd, the second quarter - 1.64 million bpd and the third - 1.63 million barrels per day.
In 2010, Kazakhstan's oil production amounted to 1.6 million barrels per day, OPEC reported.
According to BP, Kazakhstan's proven oil reserves amounted to 39.8 billion barrels in early 2010, the proven gas reserves - 1.82 trillion cubic meters. Oil production in the country in 2009 was 1.682 million barrels per day, which is 8.5 percent more than the volume in 2008.
Major fields such as Tengiz and Karachanag are located in Kazakhstan. They are one of the largest fields in the world. Tengiz field in western Kazakhstan was 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 the agreemeent. At present, its partners are: Chevron - 50 percent, KMG - 20 percent, ExxonMobil - 25 percent and LukArko - 5 percent.