Kazakhstan sees average oil output below 1.8mn bpd in H1

BAKU: Kazakhstan expects to see oil production below 1.8 million barrels per day (bpd) on average in the first half of this year, energy minister Kanat Bozumbayev said on Sunday.

In March, production would be cut by 80,000 bpd compared to November levels, bringing output down to 1.82 million bpd, the minister said, speaking on the sidelines of a meeting of OPEC members and other major oil exporters in Baku.

"The cuts will be less than 1.800 mln bpd in April due to shut down at Kazhagan oilfield," Bozumbayev said.

"Now, production there is at 340,000 bpd - 350,00 bpd, so the cuts will be significant, around 200,000 bpd," he added.

Low production is expected also in May, but would then restore in June, bringing mean output over the first half of the year to below 1.8 million bpd, the minister said.