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Kazakhstan tests the market with new exploration round

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Report summary

On 20 August 2015 Kazakhstan s Ministry of Energy (MoE) announced a list of 12 exploration blocks available for offer. The blocks are almost all located in core oil and gas provinces in western and central Kazakhstan. As a substitute to the familiar tendering process the MoE may now grant exploration and production licences through signing bonuses based auctions. This auction is a noteworthy step for Kazakhstan. The need to unlock new reserves via onshore exploration has been an under valued part of Kazakhstan s long term energy strategy. Given the country s reliance on its largest oil and gas projects any exploration success would be a positive counterbalance to decline at mature onshore fields. This could be the start of a more positive period for onshore exploration particularly if companies are willing to make counter cyclical investments.

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    Kazakhstan tests the market with new exploration round

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  • Map of available blocks

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  • 2015 licensing round: block overview

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