OPEC forecasts slight decrease in Kazakhstan oil production

OPEC forecasts slight decrease in Kazakhstan oil production

Baku, Azerbaijan, May 20

By Elena Kosolapova - Trend:

Kazakhstan's average oil production is expected to decrease by 10,000 barrels per day over the previous year to average 1.61 million barrels per day in 2015, according to OPEC's May oil market report.

The forecast remains unchanged from the previous monthly oil market report.

"On a quarterly basis in 2015, output will average 1.66 million barrels per day, 1.60 million barrels per day, 1.59 million barrels per day and 1.61 million barrels per day, respectively," the report said.

In March 2015 Kazakhstan's oil production declined by 10,000 barrels per day (compared to February) to 1.67 million barrels per day but was slightly higher compared to March 2014. Five out of Kazakhstan's top 10 fields have declined in the first quarter of 2015.

Kazakhstan's oil supply decreased by 20,000 barrels per day over the previous year to average 1.62 million barrels per day in 2014. On a quarterly basis in 2014, output will average 1.65 million barrels per day, 1.57 million barrels per day, 1.61 million barrels per day and 1.66 million barrels per day, respectively.

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 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 appeared from the ground pipeline stretching from the Island D to the Bolashak plant. The government said the replacement of pipes will take at least two years.

Edited by S.I.

Follow the author on Twitter: @E_Kosolapova

Subscribe to Trend in Google News! Subscribe
Saudi foreign ministry says discussed Iran nuclear program with U.S. Blinken
Saudi foreign ministry says discussed Iran nuclear program with U.S. Blinken
US ready for Vienna talks on nuclear deal, but time is limited — White House
US ready for Vienna talks on nuclear deal, but time is limited — White House
Iran to resume Vienna negotiations on JCPOA soon - MFA
Iran to resume Vienna negotiations on JCPOA soon - MFA
Loading Bars
Latest
Iran shares data on its oil extraction and exports
BSTDB may consider supporting Azerbaijan in issuing green bond (Exclusive)
Azerbaijan, Turkmenistan implementing large transport projects
Six Indian Naval Ships Arrive In Sri Lanka To Boost Defence Cooperation
Turkish president arrives in Azerbaijan's Fuzuli - LIVE
High oil prices to improve Azerbaijan’s external balance – BSTDB president (Exclusive)
New steel production plant to appear in Georgia
Azerbaijan repairs civilian properties in Barda destroyed by Armenia (PHOTO)
Iran can extract oil for next hundred years - Iranian Parliament's Research Center
Turkish president's current visit to Azerbaijan is another step towards strengthening bilateral ties - administration
Iran increases aluminum ingots production
Turkey reveals data on car shipments between its Tuzla, Italy's Trieste ports for 9M2021
High probability of oil reaching $100/barrel - Blackrock CEO Fink
Some 30 people died from methanol poisoning in Russia’s Urals
bp’s ACE platform to be launched in coming months
Turkish president leaves for one-day visit to Azerbaijan
Azerbaijan publishes data on trade with China
Kazakh National Bank talks reasons for recent base rate increase
bp, SOCAR mull possibilities of increasing Azerbaijan’s gas output (PHOTO)
Indian economy likely to record 9.5 pc growth this fiscal: Reports
Iran to complete transit routes - official
Physical gas flows, nominations at TAP’s interconnections
Kazakhstan’s KMG-Security LLP opens tender to buy diesel fuel
Some forces trying to break stability in region - Secretary of Security Council of Azerbaijan
Georgia releases data on COVID-19 cases for October 26
Uzbekistan takes measures to prevent changes in gas prices
Azerbaijan's International Anti-Terrorism Training Center holds opening ceremony for "National Security" course (PHOTO)
Revanchist forces in Armenia engaged in anti-propaganda campaign against Azerbaijan - State Security Service
SOCAR’s Kulevi Oil Terminal conducts contractor performance evaluation
Azerbaijani oil prices continue to rise
Kazakh president proposed to create interstate border trade zone with Turkmenistan
Reps of SMEs of Russia’s Yaroslav in Azerbaijan in search for potential partners - Russian official
Iran’s Shiraz Petrochemical Company records increase in revenues
UK's Heathrow Airport flags tepid travel recovery until 2026
Iranian currency rates for October 26
Georgia lowers import of Turkish-made leather goods
Majority of foreign investmens in Iran made in industrial, mining and trade sectors
Azerbaijani expert talks danger of new AY.4.2 variant of COVID-19
Value of cement supplies from Turkey to Turkmenistan rises
Law firm advising LUKOIL in acquisition of 15.5% interest in Shah Deniz named
PM Modi to attend ASEAN-India Summit virtually on Oct 28
Iran shares data on agricultural exports from Hamedan Province
Iran, Japan to collaborate in rural cooperatives sector
Apple importer iDigital plans TASE IPO at NIS 1b valuation
Turkey notes growth in cement exports to Uzbekistan
Azerbaijan prolongs program of cooperation with FAO
Oil gains as traders await stocks data, Iran talks
Embassy of Hungary with support of AZAL presents “Treasures of Hungary” photo exhibition (PHOTO)
U.S. Treasury's Yellen raised 'issues of concern' with Chinese Vice Premier Liu -statement
1,353 more COVID-19 cases reported in Kazakhstan
From digital transformation to strategic priorities: Siemens talks work in Uzbekistan (Exclusive)
Chinese Xi congratulates Mirziyoyev on election as Uzbek president
Man shot inside Union Square subway station in New York
Facebook invests billions in metaverse efforts as ad business slows
Egypt not to extend years-long state of emergency: president
Spain's COVID-19 cases top 5 mln
Seven killed, 140 hurt in protests against Sudan military coup
Western ambassadors took a step back, will be more careful: Erdogan
Tesla’s market value tops $1T after Hertz orders 100K cars
6 injured, including officer, in Idaho mall shooting
Saudi Arabia outlines plans under Mideast Green Initiative
British PM tells Putin Russia-UK relationship "is not the one" London wants
Chronicles of Victory: President Ilham Aliyev interviewed by Italian Rai 1 TV channel on October 26, 2020 (PHOTO/VIDEO)
Chronicles of Victory: President Ilham Aliyev addresses the nation on October 26, 2020 (PHOTO/VIDEO)
Chronicles of Victory: October 26, 2020
Development of financial technologies in Kyrgyzstan discussed in Bishkek
Georgian PM holds videoconference with Ukrainian, Moldovan counterparts
Modernization of our country, fight against unpleasant situations must reach a completely new level - President Ilham Aliyev
Master plan of Gubadli will probably be submitted in coming months - Azerbaijani president
Africa's COVID-19 cases near 8.5 mln: Africa CDC
For me, biggest reward is joy and pride in the eyes of former IDPs - Azerbaijani president
Second Karabakh war showed our strength and national spirit - President Ilham Aliyev
After 27 years, we ended occupation and drove enemy out of our lands - Azerbaijani president
Zangilan airport will be commissioned next year - President Aliyev
We will rebuild all villages of Gubadli district, including city of Gubadli - Azerbaijani president
After completion of restoration work in all liberated towns and villages, streets will be named after our martyrs - President Aliyev
Uzbekistan’s 9M2021 imports of Turkish leather goods increase
Azerbaijan defense minister meets leadership of Turkish National Defense University (PHOTO)
Azerbaijan, NATO talk prospects for co-op in various spheres (PHOTO)
Ernst & Young reveals total revenues of Uzbekneftegaz during 1H2021
Turkey shares data on cargo shipments via its Aliaga port
Iran talks exports of its nano products to Iraq, Turkey, Afghanistan
Azerbaijan’s State Tax Service expanding use of electronic signature
Turkey discloses volume of cargo shipment via Ambarli port in 9M2021
Iran sees increase in manufacturing of several industrial, mining products
Iran's trade turnover with Azerbaijan booming - IRICA
Azerbaijan’s timber imports from Russian region revealed
Iran's Energy Exchange announces products to be on sale on October 26
Turkmenistan, Kazakhstan sign number of bilateral co-op documents
Iran’s Bahar Azadi gold coin price slightly rising
Kazakhstan ready to significantly increase imports of Turkmen gas - President Tokayev
Azerbaijan publishes latest data on mine clearance work carried out in liberated lands
Georgia records highest budget deficit in ten years
Azeronline providing companies in Azerbaijan's liberated lands with Wi-Fi
Kazakhstan ready to increase trade with Turkmenistan
Azerbaijan to open embassy in Vatican
Program of Turkish president's visit to Azerbaijan announced
Airbus rejects pressure to curb record jet output goal
Azerbaijan to export Karabakh honey to France
Azerbaijan reveals funds allocated for drawing up master plan for Gubadli city
All news