New hydrocarbon deposits are set
to be in Kazakhstan. This year, more than 80 exploration wells will be drilled
in the northwest part of the Kazakh sector of the Caspian Sea, as well as in
the Kyzylorda, Atyrau and Mangystau regions. The Ministry of Energy anticipates
the potential discovery of large oil deposits. Only a quarter of Kazakhstan’s
subsoil has been explored so far. In recent years, the country has been
conducting additional exploration of existing wells. Notably, investments in
geological exploration are steadily increasing. In 2023, they grew from 135 to
152 billion tenge within a year. This figure is planned to be increased to 200
billion tenge annually. As for oil production, it grew from 84 to 90 million tonnes
last year, while exports increased from 64 to 70.5 million tonnes.
