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Kazakhstan Overview

Kazakhstan

in figures

Oil Reserves30 billion barrels

Oil Production1,83 millon bopd

Gas Reserves1.1 tcm

Gas Production27.1 bcm

Kazakhstan: Refine and Expand

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.

The Kashagan field, discovered in 2000, is one of the largest oilfield discoveries in recent decades. However, ineffective management, skyrocketing costs and major delays have plagued its development and caused a lengthy halt to the project. The field had resumed production as of Q3 2016 and as of mid-2018 was producing 325,000 bopd.

Despite shortcomings at Kashagan, fields in the greater Caspian region will supplement Kazakhstan’s production levels. Upgrades to refineries are in process in tandem with expansions utilising local content at the Tengiz and Karazhanbas fields. Expansion at the Karachaganak field is on the horizon.

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.

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Reach Energy hits pay in Kazakhstan

Reach Energy hits pay in Kazakhstan

December 04, 2018

The NK-3 well in the North Kariman field onshore Kazakhstan has encountered hydrocarbons, operator Reach Energy announced on…

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Fluor lands Kazakhstan job
February 07, 2017

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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Kashagan back on line says ministry
September 29, 2016

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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KNOC to exit Kazakhstan field
August 05, 2016

Korea Oil Corporation (KNOC) has stated its intention to abandon the Zhambyl oil block in the Kazakh section of the Caspian Sea, a company spokesperson said on…

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Chevron to raise Kazakhstan output
July 05, 2016

Chevron has signed off on the Future Growth and Wellhead Pressure Management Project for Kazakhstan’s Tengiz oilfield, the company announced on Tuesday. The USD…

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Kazakhstan sues consortium
April 05, 2016

Lukoil, a member of the joint venture developing the Karachaganak gas condensate field, said late on Monday that Kazakhstan had filed a USD 1.6 billion claim against…

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Kazakhstan mulls production increase
March 10, 2016

Kazakhstan has plans to revert to its original 2016 oil output target of 564 million barrels should the oil price remain above USD 40, the country’s minister of oil…

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