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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London-listed operator Roxi Petroleum has discovered encouraging hydrocarbons traces at a second deep well onshore Kazakhstan, though a stuck drill pipe had seized the…
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The restart of production from the Kashagan field and expansion of the Tengiz project will boost Kazakhstan’s oil production by almost 30 percent by 2020, Deputy…
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Canadian oil and gas operator Condor Petroleum drilled their second horizontal well at the Zharkamys West 1 block on November 2014. The Shoba 11 well, located in the…
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As of November 2014, the operator of the Karachaganak oil and gasfield, Karachaganak Petroleum Operating (KPO), had invested more than $17 billion into the development…
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Gregor Mowat, appointed managing partner of KPMG’s Kazakhstan and Central Asia branch in 2013, talks to TOGY about how while the economies of many rapidly developing…
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The government of Kazakhstan and exploration and production companies are introducing new technology to brownfields that were once abandoned as too hot, too high…
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On Wednesday, July 2, Tethys Petroleum announced positive test results from its shallow gas exploration wells AKK17, AKK18, AKK19 and AKK20. The Akkulka fields in the…
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The intergovernmental agreement to transport Russian oil to China via Kazakhstan’s main pipelines was ratified last week. According to the agreement, approximately 7…
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Oil and Gas Minister Uzakbay Karabalin on Wednesday confirmed that production from the offshore Kashagan oilfield in the northern Caspian Sea would restart by the end…
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Eni and Kazakhstan’s state-owned company, KazMunayGas (KMG), entered a joint agreement on June 12 to explore the potential for oil in the northern Caspian Sea’s…
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