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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TOGY talks to Mohammed Badri, the managing director of the Schlumberger Dhahran Carbonate Research Centre, about his global vision for the centre, new technologies…
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Petrofac has signed a long-term framework agreement with Petroleum Development Oman, the engineering major said on Thursday. The scope of the contract includes…
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Petrofac on Friday said it had received a notice from the UK’s Serious Fraud Office (SFO) that it was under investigation.
In a brief press release, Petrofac said…
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Oman Oil Company Exploration & Production (OOCEP) signed an agreement with Shell for jointly exploring a block in Oman, the Omani company said on Wednesday.
The…
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TOGY talks to Jerry Jiang, Chairman of Geo-Jade Petroleum Corporation. Geo-Jade Petroleum Corporation is one of China’s largest privately owned E&P companies.
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Fluor’s Kazakh subsidiary KPJB has been awarded a front-end engineering and design contract by Tengizchevroil (TCO), the US EPC contractor announced on…
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TOGY talks to T.G. Zhang, Senior vice-president and general manager of Siemens China. The company has been active in China across numerous industries and sectors…
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TOGY talks to Zhang Xianhua, deputy chairman and general manager of Beijing Sanchuan Century Energy Technology Corporation, about patents, plans for national and…
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Brent futures rose above USD 57 a barrel on Monday, the highest level since July 2015, after non-OPEC members agreed over the weekend in Vienna to cut their production…
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Kazakhstan has resumed production at the Kashagan oilfield, the country’s Ministry of Energy announced on Thursday, ending an almost three-year-long shut-in.…
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