Country Report
Kazakhstan upstream summary
Report summary
Kazakhstan is Central Asia's largest oil producer and a core location for the Majors. Three super-giant projects dominate the upstream industry: Tengizchevroil, Kashagan and Karachaganak. These megaprojects account for the majority of liquids production, gas sales and current and future investment. The corporate landscape is diverse and also includes assets held by state-owned NC KazMunaiGas and Chinese NOCs. Kazakhstan is landlocked, but is now well-served by liquids and gas export routes to the west (via Russia) and east (to China).
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- NC KazMunaiGas (NC KMG)
-
State-owned midstream operators
- QazaqGaz
- KazTransOil (KTO)
- Majors
-
Other IOCs
- Asian operators
- Russian operators
- Western operators
- Local operators
-
Kazakh service sector
- Local content
- Local supply chain
-
Geology
-
Introduction
- Efforts to promote frontier basins
- Precaspian basin
- Structural elements
-
Stratigraphy
- Pre-salt
- Post-salt
-
Plays
- Pre-salt
- Post-salt
- North Ustyurt and East Aral basins
- Structure
-
Reservoirs
- North Ustyurt basin
- East Aral basin
- Mangyshlak basin
- Structure
- Reservoirs
- Hydrocarbon quality
- South Turgai basin
- Structure
- Reservoirs
- Chu-Sarisu basin
- Structure
- Reservoirs
- Hydrocarbon quality
- Zaisan basin
-
Other basins
- Ili basin
- Syrdarya basin
- Teniz basin
-
Introduction
-
Exploration
- Licensing
- Overview
-
Onshore
- Online auctions (2020 onwards)
- Previous licensing rounds
- Blocks with state company priority rights
- Ultra-deep Eurasia project (suspended)
-
Offshore
- Active licences
- Relinquished licences
- Cross-border blocks (Russia)
-
Drilling
- Drilling activity
- Overview
- Soviet-era exploration
-
Modern exploration
- Offshore
- Onshore
- Coalbed methane (CBM)
-
Reserves and resources
- Conversion factors
- Transition to Western reserve standards
- Reserves by basin
- Reserves by shore status
- Liquids
- Sales gas
-
Production
-
Liquids
- Overview
- Historical production
- Current and future production
-
Gas
- Overview
- Historical sales production
- Current and future sales production
-
Liquids
-
Infrastructure
-
Introduction
- Recent and current investment priorities
- Pipeline tariffs
-
Oil infrastructure
- Overview
- Existing liquids pipelines
- Caspian Pipeline Consortium (CPC)
- Uzen-Atyrau-Samara (UAS)
- Kazakhstan-China Oil Pipeline
- Other pipelines
-
Proposed liquids pipelines
- Kazakhstan Caspian Transportation System (KCTS)
-
Rail and sea transportation
- Rail infrastructure
- Ports and shipping
- Refineries
-
Gas infrastructure
- Overview
- Existing gas pipelines
-
West Kazakhstan
- Central Asia-Centre (CAC)
- Uzen-Aktau
- Soyuz Orenburg-Alexandrov Gai
- Makat-Atyrau-Astrakhanskoye (Makat-North Caucasus)
-
Central Kazakhstan
- Bukhara-Ural
- Zhanazhol-Aktobe-Krasnyy Oktyabr
- Zhanazhol - KC-13 (Bukhara-Ural)
- Kartaly-Kostanay
-
East Kazakhstan
- Beineu-Bozoi-Akbulak (Shymkent) (BBA pipeline)
- Bukhara-Tashkent-Bishkek-Almaty
- Saryarka
- Turkmenistan-China Gas Pipeline
- Other pipelines
- Gas processing plants
-
Gas-feed projects
- Atyrau Gas Chemical Complex (AGCC)
- Other recently proposed gas monetisation concepts
- Gas storage
-
Introduction
-
Costs
- Introduction
-
Capital costs
- Capital expenditure by location
-
Operating costs
- Operating expenditure by location
-
Policy and regulation
- Key legislation
- Background
-
Current legislation
- Tax Code
- Subsoil Use Code
- Law on Gas and Gas Supply
- Environmental Code
-
Key considerations
- Local content
- Environmental
- Finance
-
Regulatory body
- Ministry of Energy
- Ministry of Finance
- Ministry of National Economy
- Samruk-Kazyna
- National Oil Fund
-
State oil company
- NC KMG subsidiaries
- International boundaries
-
Legal status of the Caspian Sea
- Overview
- North Caspian Sea
- South Caspian Sea
-
Fiscal terms
- Overview
-
Upstream
- Tax stability
- Midstream / downstream
- Current fiscal terms
-
Concession
- ‘Improved model contract' for new complex projects (2023 onwards)
- State equity participation
- Bonuses, rentals and fees
- Mineral Extraction Tax (MET)
- Rent Tax on Export
- Oil Export Customs Duty (ECD)
- Road / property / land tax
- Environmental / CO2 taxes
- Corporate Income Tax (CIT)
- Contractor revenue entitlement
- Liquids and natural gas pricing
- Abandonment fund
- Domestic market obligation (DMO)
- Excess Profit Tax (EPT)
- Alternative Subsoil Tax (AST)
- Fiscal/contractual ring-fences
- Dividend withholding tax / branch profit tax
- Indirect taxes
- Sample cash flow
-
PSCs
- Overview
- Profit sharing
- Corporate Income Tax (CIT)
Tables and charts
This report includes 66 images and tables including:
- Liquids production by field
- Gas sales by field
- Key facts: Table 1
- Country map
- Kazakhstan: recent block awards
- Kazakhstan: active blocks by basin
- Reserves and resources: Table 1
- Liquids and gas reserves
- Reserves and resources: Table 2
- Liquids reserves by basin
- Gas reserves by basin
- Reserves and resources: Table 3
- Contingent resources
- Reserves and resources: Table 5
- Infrastructure: Table 3
- Liquids and Gas Production 2023
- Reserves and contingent resources at 01/01/2024
- Capital Expenditure 2023
- Net Acreage 2024
- Kazakhstan: basin map
- Precaspian basin (east and southeast): simplified stratigraphy
- North Ustyurt basin: simplified stratigraphy
- Exploration: Table 1
- Exploration: Table 2
- West Kazakhstan: current licences
- East Kazakhstan: current licences
- Kazakh sector of Caspian Sea: current licences
- Liquids production by basin
- Production: Table 1
- Production: Table 2
- Production: Table 3
- Production: Table 4
- Liquids production by field
- Production: Table 5
- Production: Table 6
- Gas sales by basin
- Production: Table 7
- Production: Table 8
- Production: Table 9
- Production: Table 10
- Gas sales by field
- Production: Table 11
- Production: Table 12
- Infrastructure: Table 1
- West Kazakhstan: existing and planned liquids pipelines
- East Kazakhstan: existing and planned liquids pipelines
- Infrastructure: Table 2
- Infrastructure: Table 4
- Kazakhstan: existing and planned gas pipelines
- West Kazakhstan: existing and planned gas pipelines
- East Kazakhstan: existing and planned gas pipelines
- Infrastructure: Table 5
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
- Costs: Table 4
- Caspian Sea map
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
- Fiscal terms: Table 6
- Fiscal terms: Table 7
- Fiscal terms: Table 8
- Fiscal terms: Table 9
What's included
This report contains:
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