Oil Reserves30 billion barrels
Oil Production1,81 millon bopd
Gas Reserves2.3 tcm
Gas Production32 bcm
Kazakhstan holds an estimated 30 billion barrels of oil reserves, along with 1.1 tcm (38.8 tcf) of natural gas. It is among the top 15 countries based on the size of its oil reserves. The majority of Kazakhstan’s hydrocarbons reserves are located in the regions of Kashagan, Tengiz and Karachaganak.
To reach its potential as a global energy player, Kazakhstan is working to maintain a fine balance between the economic interests of its two powerful neighbours, Russia and China. Chinese energy demand continues to surge upwards and will consume Kazakhstan’s robust hydrocarbons output for the foreseeable future.
Technip Energies has signed a five-year services agreement with KPO for the development of Kazakhstan's Karachaganak field.
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OPEC+ has decided to extend oil production cuts into 2025.
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Several OPEC+ members have extended voluntary oil production cuts of 2.2 million bpd into Q2 2024.
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Condor Energies has signed a deal to take over eight producing gas-condensate fields in Uzbekistan.
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Saudi Aramco has received orders from the government to set its maximum sustainable capacity to 12 million bpd.
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Both OPEC and the International Energy Agency (IEA) have forecast a rise in global oil consumption in 2024, Reuters reported on Thursday.
The IEA has raised its…
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Huseyn Tarek, regional president of INTECH Process Automation, talks to The Energy Year about digitalisation in industrial plant management, how automation systems…
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R.N. Minnikhanov, president of the Republic of Tatarstan, talks to TOGY about the significance of Tatarstan in the development of Russia’s oil and gas industry, the…
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Magzum Mirzagaliyev, minister of ecology, geology and natural resources of Kazakhstan, has called for sustainable solutions in the oil and gas industry.
Mirzagaliyev…
Imanverdi Hasanov, general manager of Baku Shipyard, talks to TOGY about the shipyard’s ongoing and targeted projects, its expansion strategy in the region and the…
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The NK-3 well in the North Kariman field onshore Kazakhstan has encountered hydrocarbons, operator Reach Energy announced on Monday.
“This development further…
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U.S. crude’s losing streak continued on Tuesday as the Organization of Petroleum Exporting Countries forecast that world demand growth would slow down in 2019.
In…
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Ronald Solomon, Caribbean area manager for Baker Hughes, a GE company (BHGE), talks to TOGY about the company’s current and upcoming projects, and the opportunities…
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Shell is in talks to buy up to 20% of Kazakhstan NOC KazMunayGaz, international media reported on Tuesday.
While anonymous Kazakh sources interviewed by Reuters…
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Petrofac announced on Tuesday the sale of its 50% stake in Mexico’s Pánuco field to Schlumberger.
The deal, whose value is undisclosed, will see Schlumberger…
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Total will purchase Maersk Oil, the E&P arm of A.P. Møller-Mærsk, for USD 7.45 billion, the French super-major announced on Monday.
Total will take on USD 2.5…
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Saudi Arabia has moved up to the top spot in terms of proven, probable and expected reserves, beating out the US and Russia with 73 billion barrels of recoverable oil…
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