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With 9 – 11 billion barrels, Kashagan is the largest oil field outside of the Middle East. It is estimated to come on stream in 2016 and reach production of 1.5 million barrels per day at its peak. Kazakhstan is a major oil producer with an estimated total production of 1.64 million barrels per day in 2013.
Production in 2001 has been growing at roughly 20%, on target to meet the government's forecast of 40,100,000 tons of oil (800,000 barrels per day). In 2000, production reached 11.5 km 3 of natural gas, up from 8.2 km 3 in 1999. Kazakhstan has the potential to be a world-class oil exporter in the medium term.
(The data below does not seem to include shale oil and other unconventional sources of oil such as tar sands. For instance, North America has over 3 trillion barrels of shale oil reserves, [ citation needed ] and the majority of oil produced in the US is from shale, leading to the paradoxical data below that the US will finish all its oil at ...
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Maersk Oil (Danish: Mærsk Olie og Gas A/S) was a Danish oil and gas company owned by the A. P. Moller-Maersk Group. [6] with a maximum operated production of 550,000 barrels of oil equivalent per day. Production came from Denmark, the UK, Qatar, Kazakhstan, the US Gulf of Mexico, Algeria and Brazil.
The efforts included Syr Darya Control & Northern Aral Sea (NAS) project. [4] The $86 million NAS project, funded jointly by the World Bank through a loan of $65 million and the Government of Kazakhstan which covered the rest, was designed to mitigate the environmental and economic damage to the region, sustain and increase agriculture and fishing in the Syr Darya basin and secure the ...
Output from Kazakhstan's mineral and natural resources sector for 2004 accounted for 74.1% of the value of industrial production, of which 43.1% came from the oil and gas condensate extraction. In 2004, the mineral extraction sector accounted for 32% of the GDP, employed 191,000 employees, and accounted for 33.1% of capital investment and 64.5% ...
Crude oil prices were down; West Texas Intermediate was $103.55 a barrel, [32] down from over $107 late in March, [33] and Brent Crude $118.16 [32] after peaking above $128 in March. [34] On May 7, benchmark U.S. crude reached $95.34, the lowest price of the year, after voters in France and Greece ousted government officials who would cut ...