NEWS
Kazakhstan - March 02, 2016
The National Bank of Kazakhstan on Wednesday reported data on foreign direct investment (FDI) in oil and gas for the January-September 2015 period, revealing a 72.7%…
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Kazakhstan Overview
in figures
Oil Reserves30 billion barrels
Oil Production1,81 millon bopd
Gas Reserves2.3 tcm
Gas Production32 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.
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.
NEWS
Multinational - March 04, 2024
Several OPEC+ members have extended voluntary oil production cuts of 2.2 million bpd into Q2 2024.
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NEWS
Uzbekistan - February 02, 2024
Condor Energies has signed a deal to take over eight producing gas-condensate fields in Uzbekistan.
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NEWS
Saudi Arabia - January 30, 2024
Saudi Aramco has received orders from the government to set its maximum sustainable capacity to 12 million bpd.
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NEWS
Multinational - January 18, 2024
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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Interview
- December 13, 2023
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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NEWS
Multinational - December 01, 2023
OPEC+ members have agreed to oil production cuts totaling 2.2 million bopd for early 2024, the oil and gas organisation announced on Thursday.
The cuts are being…
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NEWS
Kazakhstan - February 23, 2016
Kazakh Economy Minister Yerbolat Dosayev downgraded Kazakhstan’s oil production forecast on Tuesday. In 2016, the country is expected to produce 542 million barrels,…
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NEWS
USA - February 22, 2016
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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NEWS
Kazakhstan - February 18, 2016
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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NEWS
Kazakhstan - January 21, 2016
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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Interview
Azerbaijan - December 24, 2015
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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Interview
Azerbaijan - December 17, 2015
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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NEWS
USA - October 07, 2015
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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NEWS
Kazakhstan - September 30, 2015
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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NEWS
Kazakhstan - September 22, 2015
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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