The Oil & Gas Year Kazakhstan 2013
Kazakhstan’s Kashagan field, the world’s largest oil discovery in 40 years, finally went into production in September 2013. First oil came after substantial delays and increased expenses. International super-majors are now set to invest a total of $48 billion in phase one development – double the planned original bill. But shallow water, harsh climate and high-pressure poisonous oil didn’t discourage them, because Kashagan, by itself, represents almost 2 percent of the planet’s proven oil reserves.
The field is just one component in a national industry that has drawn the world’s attention. To reach its potential as a global energy player, Kazakhstan is working to maintain a fine balance between the economic interests of its two powerful neighbours, Russia and China.
On top of the external challenges, the Kazakh government must also strive to combat corruption and implement reforms to ensure sustainable growth as it develops its large hydrocarbons reserves.
The Oil & Gas Year Kazakhstan 2013 interviewed the Who’s Who of the hydrocarbons industry including the Minister of Oil and Gas Uzakbay Karabalin, the chairmen of the national oil companies and the leaders of the majors and joint operating companies involved in this critical nation. Illustrated throughout with maps and graphs, The Oil & Gas Year Kazakhstan 2013 is a vital resource for investors and service companies looking to get involved in an emerging energy superpower.