Baku, Azerbaijan, Sept. 11
By Aygun Badalova -Trend:
Kazakhstan's oil production will decrease by 40,000 barrels per day to 1.61 million barrels per day, according to OPEC September oil market report.
In 2014, on a quarterly basis, Kazakhstan's oil production is estimated to stand at 1.65 million barrels per day, 1.57 million, 1.60 million and 1.61 million barrels per day respectively.
"Oil output increased in July by 0.11 million barrels per day as the Tengiz oil field returned from scheduled maintenance to average 1.64 million barrels per day with higher production at 0.55 million barrels per day, although annual output dropped by 22,000 barrels per day compared to 2013," OPEC's report said.
In 2015 Kazakhstan's oil production is predicted to be 1.6 million barrels per day.
Kazakhstan's proven oil reserves stood at 30 billion barrels in early 2014, according to BP's statistical review. The country's oil production amounted to 1.785 million barrels per day in 2013, which is 3.5 percent more than the volume in 2012.
Kazakhstan produces oil mainly from its largest oil fields - Karachaganak and Tengiz.
Karachaganak field, its oil reserves amount to 1.2 billion tons, natural gas - 1.35 trillion cubic meters.
The Tengiz field 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 on September 11, 2013, but on Sept.24 its operation was suspended after a gas leak appeared from the ground pipeline stretching from the Island D to the Bolashak plant.
Production was resumed, but again suspended on Oct. 9 after showing another leak.
The cause of leaks in the gas pipeline was its cracking under the influence of sulphide compounds, the NCOC consortium operating the field said earlier. The consortium intends to resume the production at Kashagan field in 2014, Deputy Managing Director of NCOC Zhakyp Marabayev said on Jan.27 at an expanded meeting of the country's Oil and Gas Ministry's collegium.