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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ExxonMobil has added 1 billion boe of proved oil and gas reserves in 2015, the super-major said in a press release on Friday.
The increase includes replacing 67% of…
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Kazakhstan will resume production on the massive Kashagan field by the end of this year, the first deputy chairman of state energy firm Kazunaygas said Wednesday,…
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Nostrum Oil & Gas has acquired a new hedging arrangement to protect itself from the continued sink in oil prices, CEO Kai-Uwe Kessel of the Kazakhstan explorer…
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Eldar Maharramov, general director of Oil & Gas Proserv, speaks to TOGY about production issues in Azerbaijan’s oilfields and the techniques that can be used to…
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Azerbaijan’s oil and gas industry is adjusting to a period of lower oil and gas prices and to the effects of the February 2015 devaluation of the manat. James Hogan,…
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Wood Group has clinched a multi-million-dollar contract from US engineering company Bechtel for automation services at Kazakhstan’s Tengiz field, the Aberdeen-based…
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Italian energy company Eni and Kazakhstan’s state-owned KazMunayGas have entered into a 50-50 joint venture to explore and operate in the Isatay offshore block in the…
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Kazakhstan’s Energy Ministry has reduced its 2020 forecast for national oil production by around 11.5 percent.
The announcement was made in parliament on Tuesday…
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Lukoil, Russia’s second-largest oil producer, has recorded a large drop in profits for the first quarter of 2015.
The privately held business had a quarterly…
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General director of Chevron-led Kazakh oil company Tengizchevroil Tim Miller announced on Monday that the company’s oil output has increased by 4.4 percent to 7.1…
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