The delay in Kashagan makes Kazakhstan worsen the prognosis for the oil production.

On the background of the delay in the project to develop the Kashagan field, Kazakhstan has downgraded its forecast for the oil production to 81.8 million tons in 2014 from the previous target of 83 million tons, Daniyar Berlibayev, the deputy head of Kazakhstan's national company "KazMunaiGas", stated.

"There is a decision on the termination of large-scale investments into the second phase of the Kashagan. All the plans for the future may depend on the field data obtained during the pilot phase", - D.Berlibayev told the Bloomberg agency.

According to the forecast of the "KazMunaiGas" representative this year the production from the existing fields in the country will increase by 1.2 million tons, which is also lower than the previous forecast of 1.5 million tons.

Last year the country produced 81.8 million tons of oil. A substantial portion of this amount (27 million tons) provided the project of developing the Tengiz oil field by the joint venture "Tengizchevroil" (Chevron - 50%, "KazMunaiGas" - 20%, ExxonMobil - 25% and Lukoil - 5%).

In addition, in 2013 the Karachaganak field brought 12 million tons, which is developed by BG (29,25%), Eni (29,25%), Chevron (18%), Lukoil (13.5%) and "KazMunaiGas" (10%).

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