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.

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