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EIA: Kazakhstan's oil production to reach 2.03 mln bps by late 2013

Oil&Gas Materials 8 February 2012 15:08 (UTC +04:00)

Azerbaijan, Baku, Feb. 8 /Trend, A.Badalova/

Kazakhstan's oil production will reach 2.03 million barrels per day in the fourth quarter of 2013, which will be the highest level in the subsequent two years, the U.S. Energy Information Administration (EIA) said in its report on the short-term energy outlook.

Kazakhstan oil production level for 2013 is predicted at 1.94 million barrels per day.

In the first and second quarters of the next year the country's oil production will amount to 1.88 million barrels per day, in the third quarter - 1.96 million barrels per day, the EIA forecasts.

According to the EIA forecasts, oil production level in Kazakhstan will reach 1.8 million barrels per day compared to 1.65 million barrels per day in 2011.

The highest level of the county's production this year will be observed in the fourth quarter - at 1.81 mln bpd. In the first quarter, oil production will amount to 1.79 mln bpd, in the second and third quarters - 1.8 mln bpd.

According to BP, the proven oil reserves in Kazakhstan amounted to 39.8 billion barrels in early 2011, but hit 1.757 million barrels per day in 2010, or 4.4 percent more than the volume in 2008.

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.

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