Oil production drops in Kazakhstan
Baku, Azerbaijan June 13
By Elena Kosolapova - Trend:
Kazakhstan's oil production in April declined by 0.11 million barrels per day to average 1.50 million barrels per day, mainly due to summer maintenance at the Karachaganak oil field, according to OPEC Monthly Oil Market Report - June 2016.
A further supply contraction of 40,000 tons per day is anticipated for Kazakhstan in 2016, to bring the production to 1.56 million barrels per day, said OPEC.
The forecast remains unchanged as compared to the anticipated figures in the organization's May and April reports.
Kazakhstan's oil production in 2015 declined by 30,000 barrels per day to average 1.60 million barrels per day, according to OPEC. Kazakhstan's proven oil reserve as of early 2016 stood at 30 billion barrels, according to the BP Statistical Review of World Energy. Kazakhstan's largest oil fields are Tengiz, Karachaganak and Kashagan.
The country plans to reduce the oil production to 74 million tons in 2016.
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