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
10 April 2025
Technology, policy and narrative are the three biggest factors that could change the course of our 2050 outlook
10 April 2025
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
9 April 2025
A rising global population and greater urbanisation will mean increasing demand for energy, but what will be up and down in the mix? Petroleum Economist looks out to 2050 again in the second part of our long-term outlook
9 April 2025
AI is powering the Middle East & North Africa’s digital transformation, but can the region meet soaring energy demand sustainably? Small modular reactors may hold the key
