Baku, Azerbaijan, June 8
By Aygun Badalova - Trend:
Kazakhstan's oil output will drop from 1.73 million barrels per day in 2015 to 1.68 million barrels per day in 2016 and 1.7 million barrels per day in 2017, according to the US Energy Information Administration's (EIA) forecasts published in its Short-Term Energy Outlook.
The oil production in Kazakhstan stood at 1.67 million barrels per day in the first quarter of 2016, according to the EIA.
This is while this figure is forecasted to reach 1.69 million barrels per day in the second and third quarters and 1.68 million barrels in the fourth quarter of 2016.
The EIA expects that the country's oil output will be 1.7 million barrels per day in the first quarter of 2017, 1.69 million barrels per day in the second and third quarters each and 1.71 million barrels per day in the fourth quarter of 2017.
Kazakhstan's proven oil reserve stood at 30 billion barrels as of early 2015, according to BP.
Kazakhstan's largest oil fields are Tengiz, Karachaganak and Kashagan.