The Government of Kazakhstan has approved a comprehensive plan for the development of large-scale oil and gas projects in the country for the period 2023-2027. The adopted plan provides for the development of the largest oil gas projects on the Tengiz, Karachaganak, and Kashagan oil fields, and is intended to raise oil production up to 105.5 Mt and gas production up to 82.1 bcm by 2027.
The adopted package plan will allow the implementation of 20 significant projects in oil and gas, oil and gas processing and petrochemical industries with expected investments up to KZT37.3bn (US$81m). In addition, the Shymkent refinery will double its production capacity from 6 Mt/year to 12 Mt/year, the throughput capacity of the Kenkiyak-Atyrau pipeline will be expanded from 6 Mt/year to 15 Mt/year, and the throughput of the Kenkiyak-Kumkol pipeline will be doubled from 10 Mt/year to 15 Mt/year.
In 2022, oil production in Kazakhstan stood at 86.4 Mt, while natural gas production stood at 27 bcm. The country’s refining capacity was 480,000 bbl/d (24 Mt/year) in 2022.
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