Azerbaijan, Baku, Feb. 12 / Trend A. Badalova /
Kazakhstan's oil production will reach 1.73 million barrels per day (bpd) in the fourth quarter of 2013, which will be the highest level during the year, according to OPEC's forecasts.
OPEC's February oil market report published on Tuesday says that in the first quarter of 2013 Kazakhstan's oil production will amount to 1.62 million bpd, in the second quarter - 1.61 million bpd, in the third quarter - 1.65 million bpd.
According to OPEC's estimates, the country's oil production hit 1.63 million bpd in the fourth quarter of 2012.
OPEC kept its forecasts on Kazakhstan's oil production for 2013 unchanged at 1.66 million bpd, which is 70,000 bpd more than in 2012.
"The startup of the Kashagan is seen as the main driver of the growth in 2013. The major field is seen to start up in the second quarter of 2013," OPEC's report said.
According to BP, Kazakhstan's proven oil reserves were 30 billion barrels in early 2012.
The country's oil production, according to BP, amounted to 1.841 million barrels per day in 2011, which is 0.9 percent more than the volume in 2010.
In Kazakhstan there are fields such as Tengiz and Karachaganag. The 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 agreement. At present, its partners are: Chevron -- 50 percent, KMG -- 20 percent, ExxonMobil -- 25 percent and LukArko -- 5 percent.
The 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.