By 2025 the three largest Kazakh projects - Tengizchevroil, Kashagan and Karachaganak will account for 75% of total national oil and gas production. Furthermore, between 2015 and 2030 Kazakhstan can increase oil production by 60% - to 2.7 million barrels a day. This will place the country above some of today’s top global top oil producers, in terms of current production.
The main drivers of growth in the oil and gas sector of Kazakhstan will be ongoing and planned major projects in the upstream sector and development of transport infrastructure, such as the recent $240.3 million loan from the Asian Development Bank to help Kazakhstan modernize its transport system.
The project will involve the reconstruction and upgrade of 299km of a deteriorated section of the Aktobe–Makat road in the western part of the country. This will establish fast transportation links connecting Astana and Aktobe with the major oil and mineral–rich city of Atyrau, and the country’s only international commercial seaport in Aktau.
The Aktau seaport will be expanded. In the port of Kuryk in the Mangistau region, there are plans to build an oil terminal as a result of government support and the new regulation for exploration and subsoil use.
The modernization of Kazakhstan’s transport system along with the resumption of production at the Kashagan oil field and investment in the Tengiz field, mean the future looks promising for the oil and gas industry in Kazakhstan.
You can meet the key players involved in this projects at KIOGE in October.