Helping U.S. Companies Export Kashagan is being developed by North Caspian Operating Company (NCOC). Aug 14 (Interfax-Kazakhstan) – Kazakhstan produced 43.979 million tonnes of crude oil and 7.544 million tonnes of gas condensate in January-July 2020 or down 2% and 2.7% year over year, respectively, the Statistic Committee of the Kazakh Ministry of National Economy said.
NCOC has indicated that in addition to Kashagan, there are other opportunities for further growth within the license block of the North Caspian Sea Production Sharing Agreement. Kazakhstan has the largest proven oil reserves in the Caspian Sea region. This code is based on the general principles of the CRIRSCO code family (JORC).A state program for geological exploration is also being developed for the period from 2021-2025, according to the decree of the Minister of Ecology, Geology and Natural Resources, with a investment of about KZT1 trillion (USD2.3 billion) targeting increases in resources of 700 Mt of hydrocarbons, 200 t of gold, 5 Mt of copper, 5 Mt of base metals, and 50 kt of uranium.The programme proposes an exploration strategy aimed at defining additional resources to supplement current resources and reserves across Kazakhstan; scientific and research in support of geological exploration of mineral resources; automation and digitalization; development of infrastructure; and staffing of the geological industry.Kazakhstan has a number of both local and international major mining companies operating in country, including ArcelorMittal (coal and iron ore), ERG (base metals), Kazakhatomprom (uranium), Kazakhmys (copper and gold), Kazminerals (copper and gold), and Kazzinc (Glencore) (a range of base metals and gold).In addition, there are a number of medium and small mining companies such as Kazphos, Yildrim, Altynalmas, Polymetal, and Central Asia Metals, while oil companies operating within Kazakhstan include TengizChevroil, KazMunayGas, Total, and Gazprom.Today, SRK Consulting (Kazakhstan) Ltd actively provides professional consulting services to many geological exploration projects in the Republic. According to Business Monitor International, Kazakhstan's net exports of crude oil is forecast to fluctuate around 1.42 – 1.55mbpd through 2027 as production increases from the prolific Kashagan and Tengiz fields. The total refining capacity of the three plants is expected to increase from 13.8 to 16.5 million tons. This includes development of fields such as Aktoty, Kairan and Kalamkas-Sea. The country's gas output - which is mostly associated gas - is forecast to continue an upward trend, reaching 29.6bcm in 2027.The national oil and gas company, KazMunaiGas (KMG), is largely responsible for coordinating licensing and tenders for oil and gas blocks. Exploration Industry of Kazakhstan Kazakhstan is located in the centre of the Eurasian continent, which makes it an important link in trade and economic relations between Europe and Asia. To the north and west it borders with Russia, to the east with China, and to the south with Kyrgyzstan, Uzbekistan, and Turkmenistan. FGP is designed to further increase total daily production from the Tengiz reservoir and maximize the ultimate recovery of resources. Oil and gas from the Kashagan field is processed at the onshore Bolashak plant. Kazakhstan also ranks first in the world in uranium production and second in its reserves, and has significant oil and gas reserves, concentrated in the west, making it one of the world’s leading oil-producing countries, with over 80 million tonnes of oil and gas condensates produced annually.Since independence in 1991, Kazakhstan has successfully implemented numerous geological exploration projects for solid minerals and hydrocarbons and has about 8,000 various deposits on its national register of significant occurrences. Its proven gas reserves stand at 3 trillion cubic meters and projected reserves at 5 trillion cubic meters.