U.S. predicts Kazakhstan’s oil production at 1.61 mn bpd in 2013
Azerbaijan, Baku, Oct. 17 / Trend, A. Badalova /
Kazakhstan's oil production will amount to 1.61 million barrels per day (bpd) in 2013, unchanged from 2012, the latest Short-Term Energy Outlook published by the U.S. Energy Information Administration (EIA) said.
According to the EIA's forecasts, in the fourth quarter of 2013, the country's oil production will amount to 1.58 million bpd compared to 1.59 million bpd in the third quarter, 1.61 million bpd in the second quarter and 1.67 million bpd in the first quarter of the year.
In 2014 EIA predicts Kazakhstan's oil production to increase by 40,000 bpd to 1.65 mln bpd.
The highest level of the country's oil production next year will be observed in the fourth quarter - at 1.68 million bpd. According to the EIA's forecasts, in the first quarter Kazakhstan will produce 1.62 million bpd, in the second quarter - 1.64 million bpd, in the third quarter - 1.65 million bpd.
According to BP, Kazakhstan's proven oil reserves stood at 30 billion barrels in early 2013.
The country's oil production, according to BP, amounted to 1.728 million barrels per day in 2012, which is 1.6 percent less than the volume in 2011.
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, which opened in 1979 in Western Kazakhstan, has estimated reserves of about 26 billion barrels.