Kazakhstan to join world top ten oil exporters in ten years

ASTANA. November 8. KAZINFORM Kazakhstan will join the world top ten oil exporters in 2020. Such forecast was made by the International Energy Agency in its annual report "World Energy Outlook".

In 2015 this Central Asian country will join those few states producing over 2 mln barrels of oil per day.

The oil production in Kazakhstan will have reached a peak of 5.4 mln barrels per day in 2025-2030, the report writes. In 2009 this figure made 1.5 mln barrels.

"Significant increase in production and export of oil in the Caspian Sea region may be registered in coming years. By 2035 the rate of the Caspian region in the world oil export will increase by 9% compared to 6% in 2009", the report writes.

However, the Agency forecasts that significant obstacles for development of petroleum resources of Caspian Sea will remain. Among these obstacles the IEA names large-scale investments needed for development of energy resources of the region and difficulties in pipeline construction through the territories of several states.

Despite these barriers, the Agency believes that the Caspian oil can become an alternative for resources of the politically unstable Middle East region.