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.
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
