OPEC expects decline in crude oil production in Kazakhstan in 2017

Almaty. July 13. Silkroadnews – OPEC expects decline in crude oil production in Kazakhstan in 2017, the organization’s July report on the oil market states.

“The report points out, even if Kazakhstan finally launches the Kashagan offshore field by mid-2017, country’s crude oil production will still decline by 30 thousand barrels per day next year,” Trend wrote.

2016 production forecast has not changed compared with one of June 2016 report and made 1.56 million daily crude output, which is 40 thousand tonnes per day less than in 2015.

In 2015, OPEC noted, the oil production in Kazakhstan decreased by 30 thousand barrels per day and averaged 1.6 million daily output.

According to BP Statistical Review, Kazakhstan’s proven oil reserves amounted to 30 billion barrels at the beginning of 2016. The largest oil fields in Kazakhstan are “Tengiz”, “Karachaganak” and “Kashagan”.

In 2016 Kazakhstan plans to reduce production to 74 million tonnes of oil.