Oil was up Wednesday morning in Asia, with an unexpected pledge from Saudi Arabia to cut crude output further by one million barrels a day in February continuing to…
READ MOREKazakhstan 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.
Several OPEC+ members have extended voluntary oil production cuts of 2.2 million bpd into Q2 2024.
READ MORECondor Energies has signed a deal to take over eight producing gas-condensate fields in Uzbekistan.
READ MORESaudi Aramco has received orders from the government to set its maximum sustainable capacity to 12 million bpd.
READ MOREBoth 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…
READ MOREHuseyn Tarek, regional president of INTECH Process Automation, talks to The Energy Year about digitalisation in industrial plant management, how automation systems…
READ MOREOPEC+ 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…
READ MOREOğuz Kirkgӧz, executive vice-president of ENKA, talks to The Energy Year about how the company’s projects in Iraq have been affected by the Covid-19 pandemic and…
READ MORER.N. Minnikhanov, president of the Republic of Tatarstan, talks to TOGY about the significance of Tatarstan in the development of Russia’s oil and gas industry, the…
READ MOREMagzum Mirzagaliyev, minister of ecology, geology and natural resources of Kazakhstan, has called for sustainable solutions in the oil and gas industry.
Mirzagaliyev…
Imanverdi Hasanov, general manager of Baku Shipyard, talks to TOGY about the shipyard’s ongoing and targeted projects, its expansion strategy in the region and the…
READ MOREThe NK-3 well in the North Kariman field onshore Kazakhstan has encountered hydrocarbons, operator Reach Energy announced on Monday.
“This development further…
READ MOREU.S. crude’s losing streak continued on Tuesday as the Organization of Petroleum Exporting Countries forecast that world demand growth would slow down in 2019.
In…
READ MORERonald Solomon, Caribbean area manager for Baker Hughes, a GE company (BHGE), talks to TOGY about the company’s current and upcoming projects, and the opportunities…
READ MOREShell is in talks to buy up to 20% of Kazakhstan NOC KazMunayGaz, international media reported on Tuesday.
While anonymous Kazakh sources interviewed by Reuters…
READ MOREPetrofac announced on Tuesday the sale of its 50% stake in Mexico’s Pánuco field to Schlumberger.
The deal, whose value is undisclosed, will see Schlumberger…
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