Lukoil, Russia’s second-largest oil producer, has recorded a large drop in profits for the first quarter of 2015.
The privately held business had a quarterly…
READ MOREOil 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.
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 MORELukoil, Russia’s second-largest oil producer, has recorded a large drop in profits for the first quarter of 2015.
The privately held business had a quarterly…
READ MOREGeneral director of Chevron-led Kazakh oil company Tengizchevroil Tim Miller announced on Monday that the company’s oil output has increased by 4.4 percent to 7.1…
READ MORELondon-listed operator Roxi Petroleum has discovered encouraging hydrocarbons traces at a second deep well onshore Kazakhstan, though a stuck drill pipe had seized the…
READ MOREThe 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…
READ MORECanadian 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…
READ MOREAs of November 2014, the operator of the Karachaganak oil and gasfield, Karachaganak Petroleum Operating (KPO), had invested more than $17 billion into the development…
READ MOREThe Zharkum gasfield experimental-industrial operation was launched on Friday, November 28, coinciding with the Day of the First President of Kazakhstan.
The field,…
READ MOREThe mayor of Kazakhstan’s Mangistau district, Alik Aidarbayev, said on Friday that money would not be allocated to the training of new personnel in 2015 due to a…
READ MOREKazTransGas will invest $127 million in the construction of a branch pipeline connected to the Beyneu-Bozoi-Shymkent conduit to gasify the southern city of Baikonur,…
READ MORESauat Mynbayev, chairman of national oil and gas company KazMunayGas (KMG), talks to TOGY about the company’s plans – both domestic and global – and its coming…
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