OPEC: Kazakhstans oil production to increase by 40,000 bpd in 2012.

By bne IntelliNews January 17, 2012
According to OPEC, oil production in Kazakhstan will increase by 40,000 bpd reaching 1.65mn bpd in 2012 as compared to 1.61mn bpd in 2011. OPEC has explained that a limited new developments are foreseen in 2012 and the increase is expected with the return to normal operation levels in 2012. The 2011 output was influenced by the strike and maintenance problems. The Kashagan oil field will not support output in 2012 as it is only expected to become operational in the Q3/2013 instead of the/Q4 2012, OPEC predicts. In the Q1 oil production is expected to reach 1.66mn bpd, in Q2 - 1.63mn bpd, in Q3 - 1.64mn bpd. According to BP, Kazakhstan's proven oil reserves totals 39.8bn barrels.

Related Articles

Kazakhstan in talks with McDonald's.

Kazakhstan is in talks over McDonald's enter to the Kazakh market, President of the Eurasian Franchising Association, Beknur Kissikov has said. He added that the main reasons that McDonald's is ... more

Kazakhstan to establish institute for energy and energy effectiveness.

Kazakhstan will establish institute for energy and energy effectiveness, deputy PM and Minister of Industry and New technologies Aset Isekeshev has informed. The new entity should start operating ... more

Kazakhstan to diminish oil products imports from Russia.

Kazakhstan plans to diminish oil products imports from Russia, according to Kuandyk Kulmurzin Director of oil industry development department in Oil and Gas Ministry. He explained that the reason ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335