Azerbaijan, Baku, July 4 / Trend E. Kosolapova/
The structure of recoverable oil reserves in existing fields deteriorates in Kazakhstan, Kazinform quoted Kazakh National Company KazMunaiGas Deputy Chairman on geology and future projects Kurmangazy Iskaziyev as saying.
"Despite the proved reserves of 5 billion tons of oil, mainly concentrated in such large fields as Kashagan, Karachaganak and Tengiz, the structure of oil reserves in the developing fields is deteriorating. The share of the so-called hard recoverable reserves is growing," Iskaziyev said at the meeting of Kazenergy Association Coordination Council for development of oil and gas industry.
Iskaziyev said that Kazakhstan's expectable geological oil resources amounted to 17 billion tons.
According to BP, Kazakhstan's proven oil reserves hit 30 billion tons in late 2011. Oil production in the country hit 1.84 million tons per day in 2011.
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