The Oil & Gas Year Kazakhstan 2014
Kashagan, the largest oil discovery in the past 30 years and most expensive to date, continues to be a thorn in the side of project developers. Bad management, skyrocketing costs and major delays have plagued development, and the field shows no signs of resuming production until sometime in 2016. However, Chinese energy demand continues to surge upwards and will consume Kazakhstan’s otherwise healthy hydrocarbons output for the foreseeable future.
Despite shortcomings at Kashagan, fields in the greater Caspian region will supplement Kazakhstan’s production levels. Upgrades to refineries are in process in tandem with expansions utilising local content at the Tengiz and Karazhanbas fields. Expansion at the Karachaganak field is on the horizon, pending approval from the Kazakh government.
The Oil & Gas Year 2014 interviewed major players in the industry including KazMunayGas chairman Sauat Mynbayev, Atyrau Refinery general director Kairat Urazbayev and Kazmortransflot general director Marat K. Ormanov, among others. The second TOGY book on Kazakhstan is packed with maps and analysis and is a vital resource for investors.