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The Oil and Gas Industry in Kazakstan

Published online by Cambridge University Press:  20 November 2018

Erik S. Karibdzhanov  and
Murat A. Taishibayev
Erik S. Karibdzhanov
Affiliation:
Academy of Sciences, Kazakstan
Murat A. Taishibayev
Affiliation:
University of Kentucky, U.S.A.
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Extract

In Kazakstan, there are currently over sixty known oil and natural gas fields, including five sedimentary basins with a potentially large amount of proven and expected gas and oil bearing seams. The largest and best known are the Caspian (Prikaspiiski), South Mangishlak (Uzhno-Mangishlakski), Ustiurt-Buzachi (Ustiurtsko-Buzachinski), Torgai (Torgaiski), and Chu-Sarisu (Chu-Sarisuiski). Kazakstan is ranked twenty-fourth among the world's 55 oil-producing countries by many analysts. It has about 60 billion barrels of oil reserves. Indeed, it has been estimated by many of the same analysts that the offshore fields in the Caspian Sea, which borders Kazakstan's western territory, contain at least 26.6 billion barrels of extractable oil reserves. Yet in 1994, according to an article in Oil and Gas Journal, the government of the United States stated that it “does not consider Kazakstan as the most important source of oil supplies for the United States; however, Kazakstan might play [an] important role in reduction of the [sic] oil price.” Oil is a vital resource for Kazakstan and its extraction will play a major role in fostering the country's future development and relations with major oil consumers. Accurately estimating Kazakstan's reserves, and its ability to sell it on the world market, remains a major concern for Almaty.

Type
Articles
Information
Nationalities Papers , Volume 26 , Issue 3 , September 1998 , pp. 557 - 564
Copyright
Copyright © 1998 Association for the Study of Nationalities 

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References

Additional Readings

Bekmagambetov, Murat and Kaplan, Eduard, “Economic Reforms,” Kazakstanskaya Pravda, 16 January 1996, p. 2.Google Scholar
Kovalenko, Olga, “Caspian Off-Shore: Research Continues,” Kazakstanskaya Pravda, 11 April 1995, p. 3.Google Scholar
Shugabayeva, Dinara, “The Caspian is a Very Sensitive Ecosystem,” Kazakstanskaya Pravda, 23 August 1995, p. 3.Google Scholar
Suleimenov, Khallilulla, “Problems and Perspectives for Transportation of Kazakstan's Oil to Export,” Panorama (Almaty), January 1996, p. 6.Google Scholar
Sutiagin, Victor, “Changes in the Leadership of Tenquiz-Chevroil,” Kazakstanskaya Pravda, 9 December 1995, p. 2.Google Scholar
Verzhbitskaya, Natalia, “Kazakstan Has to Be Attractive to Foreign Investors,” Kazakstanskaya Pravda, 15 September 1995, p. 2.Google Scholar
Voyevod, Vladimir, “Oil Is There—Where Are Investors?” Kazakstanskaya Pravda, 16 January 1996, p. 2.Google Scholar