Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | >2.57 % |
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Market Overview
The market for oil and gas upstream in Kazakhstan is expected to grow at a CAGR of more than 2.57% during the forecast period of 2020 – 2025. Factors, such as increasing natural gas production, and plans to improve oil production are expected to increase the growth for the Kazakhstan oil and gas market, during the forecast period. However, production from large fields like Kashagan field, which are expected to contain significant recoverable reserves estimated at 7 billion to 13 billion barrels of crude oil has high sulfur quantity thereby decreasing its demand and increasing refining cost.
- Onshore projects are expected to remain the most utilized of the deployment locations as they provide for cheaper access to the oil resources. Kazakhstan even though it has vast onshore reserves in the Caspian Sea but due to high levels of hydrogen sulfide and production costs are impeding growth in the Offshore projects.
- There have been significant oil discoveries in southern Kazakhstan. Economically feasible extraction of the oil may become an opportunity for the companies and may lead to a boom in oil production
- An increase in oil production is expected to increase the growth in the sector and be a prominent driver for the industry in the forecast period.
Scope of the report
The Kazakhstan oil and gas upstream market report include:
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Key Market Trends
Onshore to Dominate the Market
- The Kashagan reservoir is the leading onshore field, in the country, The production remains low due to the reservoir containing high levels of hydrogen sulfide, which are both highly toxic and highly corrosive.
- More than 100 billion cubic feet per annum (bcf) of natural gas was produced from the onshore fields. Natural gas produced in Kazakhstan increase by 4.1% from 2.3 bcf/d, in 2017 to 2.4 bcf/d, in 2018.
- Natural gas is being reinserted into the reservoirs to increase the production of the oil in reservoirs like Kashagan, thereby decreasing the overall gas production and increasing oil production.
- In Kazakhstan, natural gas production increased, by 4.1%, to 21 million tons of oil equivalent (Mtoe) in 2018 from 20.1 Mtoe in 2017. Consumption of natural gas increases, by 22.4%, to 16.7 million tons of oil equivalent (Mtoe) in 2018 from 13.7 Mtoe in 2017. Increasing demand for gas is boosting the growth in the market.
- Hence, onshore oil and gas fields are expected to dominate the market due to oil and gas basins being concentrated under the surface and economic viability of the these oil and gas fields.
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Increase in Oil Production to Drive the Market
- In 2018, oil production increased by 2.67%, year on year, from 18.9 Million tonnes oil equivalent (mtoe) in 2015 to 21 mtoe, in 2018. Increased Investment in oil projects by the government is 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 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.
- The expansion project is expected to be added in the Tengiz field (Onshore) with an increase in capacity for production of 260,000 barrels per day of crude production expected to begin in 2022.
- Hence, as the oil production is expected to dominate the market owing to its large production. It is also likely to be a driver for the market.
Competitive Landscape
The Kazakhstan oil and gas upstream market is moderately consolidated. The major companies include National Company JSC (KazMunayGas), Chevron Corporation, Karachaganak Petroleum Operating B.V., PJSC Gazprom, and Eni S.p.A.
Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Oil Production and Consumption Forecast, in barrels per day, till 2025
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4.3 Natural Gas Production and Consumption, in million tons of oil equivalent, till 2025
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4.4 Recent Trends and Developments
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4.5 Government Policies and Regulations
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4.6 Market Dynamics
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4.6.1 Drivers
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4.6.2 Restraint
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4.7 Supply Chain Analysis
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4.8 PESTLE Analysis
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5. MARKET SEGMENTATION
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5.1 Location of Deployment
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5.1.1 Onshore
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5.1.1.1 Overview
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5.1.1.1.1 Existing Projects
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5.1.1.1.2 Projects in Pipeline
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5.1.1.1.3 Upcoming Projects
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5.1.2 Offshore
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5.1.2.1 Overview
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5.1.2.1.1 Existing Projects
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5.1.2.1.2 Projects in Pipeline
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5.1.2.1.3 Upcoming Projects
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 National Company JSC (KazMunayGas)
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6.3.2 Chevron Corporation
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6.3.3 Karachaganak Petroleum Operating B.V.
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6.3.4 PJSC Gazprom
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6.3.5 Eni SPA
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Kazakhstan Oil and Gas Upstream Market market is studied from 2016 - 2026.
What is the growth rate of Kazakhstan Oil and Gas Upstream Market?
The Kazakhstan Oil and Gas Upstream Market is growing at a CAGR of >2.57% over the next 5 years.
Who are the key players in Kazakhstan Oil and Gas Upstream Market?
National Company JSC (KazMunayGas), Chevron Corporation, Karachaganak Petroleum Operating B.V., PJSC Gazprom, Eni S.p.A. are the major companies operating in Kazakhstan Oil and Gas Upstream Market.
