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Kazakhstan's oil and gas production volumes to exceed 80 million tons

September 13/2011

(Trend) -- The oil and gas production volumes in Kazakhstan in 2011 are forecasted at 81 million tons in accordance with the oil and gas ministrys report, Economic Development and Trade Minister Kairat Kelimbetov said on Tuesday.

"The oil production volume in 2011 is expected to reach 81 million tons, with an increase of 1.9 percent compared to 2010," Kelimbetov said at a cabinet meeting dedicated to the socio-economic development of the country in 2011.

Given that the average world price of Brent actually reached USD 111.6 per barrel in January-August, then the forecast on world oil prices increased from USD 65 to USD 90 per barrel in 2011. "This level takes into account the risks of possible fall in prices by late 2011," he added.

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