Gregor Mowat, appointed managing partner of KPMG’s Kazakhstan and Central Asia branch in 2013, talks to TOGY about how while the economies of many rapidly developing…
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 MOREKazakhstan’s Minister of National Economy Yerbolat Dossaev is considering switching exports of oil and gas from Europe to China or Iran because sanctions against…
READ MOREReplacing corroded pipelines which shutdown the offshore Kashagan field in the Caspian Sea will cost $1.6-billion-3.6 billion according to documents seen by Reuters on…
READ MOREThe newly formed national oil company KazMunayGas (KMG) subsidiary NordOil signed an agreement to begin exploring in the Turgay region of Kazakhstan, according to a…
READ MOREOil 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…
READ MOREThe government of Kazakhstan and exploration and production companies are introducing new technology to brownfields that were once abandoned as too hot, too high…
READ MOREOn Thursday, 11 September, President Nursultan Nazarbayev announced that Chinese companies were producing 20 percent of all Kazakh oil.
Speaking at the Shanghai…
READ MOREKazakh 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…
READ MORENational oil company KazMunayGas told a meeting between government officials and investors in Astana that five government assets would be fully or…
READ MOREKazakhstan’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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