OPEC forecasts Kazakhstan’s oil output to grow slightly

Oil&Gas Materials 15 March 2019 12:47 (UTC +04:00)

Baku, Azerbaijan, Mar. 15

By Rashid Shirinov – Trend:

OPEC forecasts liquids production in Kazakhstan in 2019 to grow by only 40,000 b/d (barrels per day) year-on-year to an average of 1.85 mb/d (million barrels per day), Trend reports via OPEC’s Monthly Oil Market Report.

Last year, the production was up by 80,000 b/d to an average of 1.81 mb/d.

Liquids output of January 2019 was up by a minor 7,000 barrels per day month-on-month to an average of 1.89 mb/d.

In particular, crude oil output was up by 11,000 b/d to an average of 1.63 mb/d, higher by 96,000 b/d year-on-year, while the output of natural gas liquids declined by 4,000 b/d month-on-month to an average of 270,000 b/d.

Meanwhile, the Kashagan field's oil output reached a record of 310,000 b/d.

However, the operators of the country’s major oil fields have announced temporary major oil field production shutdowns for maintenance. Oil production will be halted in the Kashagan field for 45 days from April 14, in Tengiz from August 1 for 42 days and in Karachaganak for 28 days from September 15.


Follow the author on Twitter: @ShirinovRashid