Kazakhstan wakes to hydrocarbon promise
After years of foot-dragging and energy policy flip-flopping, Kazakhstan is putting its oil and gas aspirations back on track
A series of actions and agreements coming to fruition in the months ahead promise to make 2018 a turnaround year for Kazakhstan. However, the former Soviet nation still suffers from a dearth of greenfield projects and the government will have to maintain the current momentum if it wants to meet its goals. The country possesses ample hydrocarbon reserves, estimated by the Kazakh Ministry of Oil and Gas at 35bn barrels of oil (4.8bn tonnes). But they're predominantly located in three mega-fields—Kashagan, Tengiz and Karachaganak—that produce more than half of the national output. Because the Astana government has bet the country's future on oil exports, it urgently needs to find new reserves.
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