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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The newly formed national oil company KazMunayGas (KMG) subsidiary NordOil signed an agreement to begin exploring in the Turgay region of Kazakhstan, according to a…
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Oil and Gas Minister Uzakbay Karabalin said last week that Kazakhstan’s oil output will peak in 2024-2030 “unless new oilfields come on stream.”
According to…
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On Thursday, 11 September, President Nursultan Nazarbayev announced that Chinese companies were producing 20 percent of all Kazakh oil.
Speaking at the Shanghai…
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Kazakh pressure groups are calling for the boycotting of major filling stations such as Helios and state-owned KazMunayGas (KMG) to protest the hike in gasoline prices…
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National oil company KazMunayGas told a meeting between government officials and investors in Astana that five government assets would be fully or…
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Kazakhstan’s Ministry of National Economy released information regarding a hike in petrol prices on Thursday. The price of petroleum products such as diesel fuel will…
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Tethys Petroleum increased its revenue to $7.1 million in the second quarter of 2014 from $6.8 million in the first quarter amid the public company’s promising…
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Minister of Oil and Gas Uzakbay Karabalin was replaced by Vladimir Shkolnik during a cabinet reshuffle by President Nursultan Nazarbayev on Wednesday.
The…
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Four people were injured on Wednesday, when an explosion at a refinery belonging to Vernal Oil Kazakhstan occurred. A government representative of Mugalzhar District…
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The UK’s Roxi Petroleum has found oil and gas with its first well on its BNG contract area in Kazakhstan, 40 kilometres south of the Tengiz field in the Mangistau…
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