Mineral Industry of Kazakhstan - Mineral Resources - Petroleum

Petroleum

Kazakhstan has the Caspian Sea region’s largest recoverable crude oil reserves. In 2005, its production accounted for almost two-thirds of the approximately 2 Mbbl/d that was produced by CIS countries in the Caspian region. The country was poised to become an even more significant supplier to world oil markets in the next decade. Kazakhstan produced approximately 1.29 Mbbl/d of oil in 2005 and consumed 222,000 Mbbl/d, resulting in net exports of more than 1 Mbbl/d. The Kazakhstan Government projected increasing production levels to about 3.5 Mbbl/d by 2015, which would come mainly from production of about 1 Mbbl/d from the to-be-developed offshore Kashagan field, 700,000 Mbbl/d from the onshore Tengiz field, 600,000 Mbbl/d from the to-be-developed onshore Kurmangazy field, and 500,000 Mbbl/d from the onshore Karachaganak field. The remainder would come from the development of smaller fields. Major growth would come from an approximately 75% increase in production from the Tengiz field and by development of the Kashagan field, which would add an additional 1 Mbbl/d after 2010.