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In 2010, the Republic of Kazakhstan cancelled the Subsoil Use Contracts for Borankol and the neighbouring Tolkyn gas field. [1] The total proven reserves of the Borankol oil field are around 21.3 million barrels (3×10 6 tonnes), and production is centered on 10,000 barrels per day (1,600 m 3 /d). [2]
The CPC pipeline transfers about 1% of global oil supply [1] and handles almost all of Kazakhstan's oil exports. [2] In 2021, the pipeline exported up to 1.3 million barrels per day (bpd) [2] of Kazakhstan's main crude grade, light sour CPC Blend, which represented 80% of Kazakhstan's total oil production of 1.6 million bpd.
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.
Kazakhstan is among the group of OPEC allies that have joined with the oil cartel to form OPEC+. The Central Asian country pumped about 1.8 million barrels per day late last year .
(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 ...
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 oil and gas basins of Kazakhstan can be grouped into four revealed or prospective oil and gas provinces in the Republic of Kazakhstan. Exploration in those provinces in which oil and gas has already been extracted had, by 2010, led to the discovery of more than 200 oil , gas , oil-and-gas and condensate hydrocarbon accumulations.
It was discovered in 2008 and developed by PetroKazakhstan, which owns and operates the oil field. The total proven reserves of the Kumkol oil field are around 300 million barrels (41×10 6 tonnes), and production is centered on 78,000 barrels per day (12,400 m 3 /d). [1]