Baku, Azerbaijan, Feb. 11
By Aygun Badalova - Trend:
Kazakhstan's oil production will remain stable at 1.66 million barrels perd day (bpd) in 2015 and 2016, compared to 1.7 million bpd in 2014, the US Energy Information Administration's (EIA) said in its Short-Term Energy Outlook.
In the fourth quarter of 2014 the country's oil production hit 1.7 million barrels per day, according to the EIA's estimates.
The highest level of the country's oil production in 2016 will be observed in the fourth quarter - at 1.67 million bpd, according to the EIA's forecasts.
In the first quarter of the next year the production will average 1.66 million bpd, in the second and third quarters - 1.65 million bpd each.
In 2015 EIA expects Kazakhstan's oil production at 1.66 million bpd in all four quarters.
Kazakhstan's proven oil reserves stood at 30 billion barrels in early 2014, according to BP's statistical review.
Kazakhstan produces oil mainly from its largest oil fields - Karachaganak and Tengiz.
Karachaganak field is one of the world's largest fields. Its oil reserves amount to 1.2 billion tons, natural gas - 1.35 trillion cubic meters. About 49 percent of Kazakhstan's gas production and 18 percent of oil production are extracted on this field.
The Tengiz field in the west of Kazakhstan is one of the deepest and largest oil fields in the world. Total estimated reserves amount to three billion tons (26 billion barrels).
Another large Kazakh oil and gas field is Kashagan, which is located in the north of the Caspian Sea. Oil production at Kashagan started in September 2013, but its operation was suspended after a gas leak. The government said the replacement of pipes will take at least two years.
Aygun Badalova is Trend Agency's staff journalist, follow her on Twitter:@AygunBadalova