Kazakhstan Oil & Gas Market Size
| Study Period: | 2019 - 2028 |
| CAGR: | > 2 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Kazakhstan Oil & Gas Market Analysis
The Kazakhstani oil and gas market is expected to register a CAGR of more than 2% during the forecast period, 2022–2027. The COVID-19 pandemic has negatively affected the Kazakhstani oil and gas market. In January 2022, due to concerns about the omicron variant of the coronavirus, oil prices in the country increased by 5% after the government protested Kazakhstani train lines and hit production at the country's Tengiz oilfield. Factors such as increasing refining capacity and plans to improve oil production are expected to drive the growth for the Kazakhstan oil and gas market during the forecast period. However, Kazakhstan's largest oil and gas field has a high composition of hydrogen sulfide, thereby increasing the cost of refining. This factor is likely to restrain the market growth during the forecast period.
- The upstream sector is expected to increase substantially during the forecast period, owing to the continued focus on improving oil and gas production. Kazakhstan also has one of the largest oil fields globally, which can boost growth in the upstream sector.
- There have been significant oil discoveries in southern Kazakhstan. Economically feasible oil extraction may become an opportunity for the companies and may lead to a boom in oil production.
- Increasing investments in the oil and gas industry are expected to drive the Kazakhstani oil and gas market during the forecast period, owing to the increasing gas processing and refining capacities.
Kazakhstan Oil & Gas Industry Segmentation
The Kazakhstani oil and gas market report includes:
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Kazakhstan Oil & Gas Market Trends
This section covers the major market trends shaping the Kazakhstan Oil & Gas Market according to our research experts:
Upstream Sector to Witness Significant Growth
- Kazakhstan is the largest economy in Central Asia and home to more than 18 million people. The country is rich in coal, oil, natural gas, and uranium. The country has seen significant growth in its exploration and production activities in recent days.
- As of 2020, oil production increased by 6.84%, to 1,811 thousand barrels per day in 2020 from 1,695 thousand barrels per day in 2015. Increased investment in oil projects by the government was the most prominent reason for the increase in oil production in the country.
- Kazakhstan's primary export oil grade is the Caspian Pipeline Consortium (CPC) Blend. CPC Blend is of light quality with an API (American Petroleum Institute) gravity of 45.3° and sweet crude (0.56% sulfur), which is of high value for its high yield of gasoline and light distillates. Most of the CPC blend is produced from the Tengiz field.
- In November 2021, the Chevron-led consortium that operates the Tengiz Oil field had begun an early production from a USD 45 billion expansion project intended to lift output to 850,000 b/d. Tengizchevroil consortium had brought on-stream three metering stations producing 100,000 b/d connected to new wells drilled as part of this expansion.
- Hence, the upstream sector is expected to grow substantially due to its oil production increase during the forecast period.
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Increasing Investments in the Oil and Gas Industry to Drive the Market
- Kazakhstan was the world's ninth-largest exporter of crude oil and 12th of natural gas as of 2020. As of 2020, natural gas exported by Kazakhstan through a pipeline was 13,221.990 million cubic meters. The increase was primarily due to demand from Russian Federation and China.
- Natural gas production increased by 14.03%, i.e., from 27.8 billion cubic meters in 2010 to 31.7 billion cubic meters in 2020. Consumption of natural gas increased by 22.06%, i.e., from 9.5 bcm in 2010 to 16.6 bcm in 2020. Therefore, increasing demand for natural gas is boosting the investments within the country.
- In 2021, the Ministry of Energy, Kazakhstan announced USD 116.8 million for the implementation of 146 oil and gas projects across the country. The allocated budget is utilized for the extension of gas networks, providing access to gas for around 10,388 thousand people within the country.
- Moreover, in June 2021, Kazakhstan started the construction of a new gas processing plant in the Makat district in the Atyrau region, near the existing onshore Bolashak oil and gas treatment complex. The project has an investment cost of USD 860 million and has a capacity to process 1 billion cubic meter/year of sulfur dioxide from the Kashagan field.
- Hence, increasing investments in the oil and gas industry are expected to drive the market due to the addition of fresh capacity. An increase in the demand from neighboring countries like the Russian Federation and China is also expected to boost the market during the forecast period.
Kazakhstan Oil & Gas Industry Overview
The Kazakhstani oil and gas market is moderately consolidated. The major companies include National Company JSC (KazMunayGas), Chevron Corporation, Karachaganak Petroleum Operating BV, PJSC Gazprom, and PJSC Lukoil Oil Company.
Kazakhstan Oil & Gas Market Leaders
National Company JSC (KazMunayGas)
Chevron Corporation
Karachaganak Petroleum Operating B.V.
PJSC Gazprom
PJSC Lukoil Oil Company
*Disclaimer: Major Players sorted in no particular order
Kazakhstan Oil & Gas Market News
- In January 2020, Caspian Sunrise announced the proposed acquisition of the Caspian Explorer from Kazakh registered entity KC Caspian Explorer LLP. The drilling vessel is capable of drilling exploration wells to depths of up to 6,000 meters in extremely shallow water.
- In December 2020, Karachaganak Petroleum Operating BV (KPO) had signed the agreement sanctioning the Karachaganak Expansion Project-1A (‘’KEP1A Project’’). The sanctioning of the KEP1A Project is a milestone in the continued development of the Karachaganak field, building the Karachaganak Gas Debottlenecking Project (KGDBN) and the Fourth Injection Compressor (4IC) Project.
Kazakhstan Oil & Gas Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Crude Oil Production and Consumption Forecast in thousands barrels per day, till 2027
4.3 Natural Gas Production and Consumption Forecast in billion cubic feet per day, till 2027
4.4 Refinery Installed Capacity and Forecast in thousands barrels per day, till 2027
4.5 LNG Terminals Installed Capacity and Forecast in MTPA, till 2027
4.6 Recent Trends and Developments
4.7 Government Policies and Regulations
4.8 Market Dynamics
4.8.1 Drivers
4.8.2 Restraints
4.9 Supply Chain Analysis
4.10 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Upstream
5.1.1 Location of Deployment
5.1.1.1 Onshore
5.1.1.1.1 Overview
5.1.1.1.1.1 Existing Projects
5.1.1.1.1.2 Projects in Pipeline
5.1.1.1.1.3 Upcoming Projects
5.1.1.2 Offshore
5.1.1.2.1 Overview
5.1.1.2.1.1 Existing Projects
5.1.1.2.1.2 Projects in Pipeline
5.1.1.2.1.3 Upcoming Projects
5.2 Midstream
5.2.1 Transportation
5.2.1.1 Overview
5.2.1.1.1 Existing Infrastructure
5.2.1.1.2 Projects in Pipeline
5.2.1.1.3 Upcoming Projects
5.2.2 Storage
5.2.2.1 Overview
5.2.2.1.1 Existing Infrastructure
5.2.2.1.2 Projects in Pipeline
5.2.2.1.3 Upcoming Projects
5.2.3 LNG Terminals
5.2.3.1 Overview
5.2.3.1.1 Existing Infrastructure
5.2.3.1.2 Projects in Pipeline
5.2.3.1.3 Upcoming Projects
5.3 Downstream
5.3.1 Refineries
5.3.1.1 Overview
5.3.1.1.1 Existing Infrastructure
5.3.1.1.2 Projects in Pipeline
5.3.1.1.3 Upcoming Projects
5.3.2 Petrochemicals Plants
5.3.2.1 Overview
5.3.2.1.1 Existing Infrastructure
5.3.2.1.2 Projects in Pipeline
5.3.2.1.3 Upcoming Projects
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 National Company JSC (KazMunayGas)
6.3.2 Chevron Corporation
6.3.3 Karachaganak Petroleum Operating BV
6.3.4 PJSC Gazprom
6.3.5 PJSC Lukoil Oil Company
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Kazakhstan Oil & Gas Market Research FAQs
What is the study period of this market?
The Kazakhstan Oil and Gas Market is studied from 2019 - 2028.
What is the growth rate of Kazakhstan Oil and Gas Market?
The Kazakhstan Oil and Gas Market is growing at a CAGR of >2% over the next 5 years.
Who are the key players in Kazakhstan Oil and Gas Market?
National Company JSC (KazMunayGas), Chevron Corporation, Karachaganak Petroleum Operating B.V., PJSC Gazprom, PJSC Lukoil Oil Company are the major companies operating in Kazakhstan Oil and Gas Market.
Kazakhstan Oil and Gas Industry Report
Statistics for the 2023 Kazakhstan Oil and Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Kazakhstan Oil and Gas analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Kazakhstan Oil and Gas Report Snapshots
- Kazakhstan Oil and Gas Market Size
- Kazakhstan Oil and Gas Market Share
- Kazakhstan Oil and Gas Market Trends
