Europe / Caspian / CIS

Kazakhstan flag
Summary | Profile

Country profile: Kazakhstan

Location: Central Asia, northwest of China; a small portion west of the Ural River in eastern-most Europe
Climate: continental, cold winters and hot summers, arid and semiarid
Terrain: extends from the Volga to the Altai Mountains and from the plains in western Siberia to oases and desert in Central Asia
Size: 2717300 sq. km total (Land area: 2669800 sq. km  Water area: 47500 sq.km)
Population: 15,340,533 (July 2008 est.)
Languages: Kazakh (Qazaq, state language) 64.4%, Russian (official, used in everyday business, designated the "language of interethnic communication") 95% (2001 est.)
Government: republic; authoritarian presidential rule, with little power outside the executive branch
Capital city: Astana
Legal system: based on Islamic law and Roman law; has not accepted compulsory ICJ jurisdiction
Currency: tenge (KZT)
Licensing:

Country profile

Kazakhstan has the Caspian Sea region's largest recoverable crude oil reserves, and its production accounts for over half of the roughly 2.8 million barrels per day (bbl/d) currently being produced in the region (including regional oil producers Azerbaijan, Uzbekistan, and Turkmenistan). Kazakhstan oil exports are the foundation of the country’s economy and have ensured that average real GDP growth has stayed above 9 percent for the last 6 years.

Real GDP growth during 2007 averaged 9.5 percent. Kazakhstan's growing petroleum industry accounts for roughly 30 percent of the country’s GDP and over half of its export revenues. In an effort to reduce Kazakhstan's exposure to price fluctuations for energy and commodities exports, the government created the National Oil Fund of Kazakhstan. Due to high oil prices the international reserves and assets in the oil fund have doubled in the last year to $20 billion in October 2007.

Native Kazakhs, a mix of Turkic and Mongol nomadic tribes who migrated into the region in the 13th century, were rarely united as a single nation. The area was conquered by Russia in the 18th century, and Kazakhstan became a Soviet Republic in 1936. During the 1950s and 1960s agricultural "Virgin Lands" program, Soviet citizens were encouraged to help cultivate Kazakhstan's northern pastures. This influx of immigrants (mostly Russians, but also some other deported nationalities) skewed the ethnic mixture and enabled non-Kazakhs to outnumber natives.

Independence in 1991 caused many of these newcomers to emigrate. Kazakhstan's economy is larger than those of all the other Central Asian states combined, largely due to the country's vast natural resources and a recent history of political stability. Current issues include: developing a cohesive national identity; expanding the development of the country's vast energy resources and exporting them to world markets; achieving a sustainable economic growth; diversifying the economy outside the oil, gas, and mining sectors; enhancing Kazakhstan's competitiveness; and strengthening relations with neighboring states and other foreign powers.

 

Energy production and consumption


Oil Gas
Production: 1 million bbl/day (2005 est.)  
Consumption: 234,000 bbl/day (2005 est.)  
Exports: 1 million bbl/day (2004 est.)  
Imports: 113,600 bbl/day (2004 est.)  
Reserves: 9 billion bbl/day (2006 est.)  
Major fields:



Kazakhstan - recent news

15 Jul 20
Kazakhstan: Tethys Petroleum announces successful test at the KBD-02 well in the Kul-Bas block
Tethys Petroleum has announced that the test period for the first zone (Jurassic) in the Klymene exploration well KBD-02 in the Kul-Bas block in Kazakhstan has been completed and the testing for the second potential zone has been initiated.
09 Jul 20
Kazakhstan: Petrofac joint venture secures EPCC contract in Kazakhstan with NCOC
Petrofac’s Engineering & Production Services (EPS) division, in joint venture with Isker, a Kazakhstan company, has secured an Engineering, Procurement, Construction, Pre-commissioning and Commissioning (EPCC) contract worth approx. US$135 million for New Water Treating Facilities for North Caspian Operating Company (NCOC) in Atyrau, Kazakhstan.
26 Mar 20
Kazakhstan: Eni starts commercial production at Badamsha Wind Farm site in Kazakhstan
Eni, through its local renewable subsidiary ArmWind, started the commercial production of the Badamsha Wind Farm located in North-West Kazakhstan, in the Aktobe Region. Badamsha Wind Farm has a capacity of 48 MW and will provide the Region with an annual power generation of about 198 GWh, with an overall CO2 saving of 172,000 tons per year.
23 Jan 20
Kazakhstan: Condor Petroleum receives a further USD18.7 million for sale of oil fields in Kazakhstan
Condor Petroleum has announced the receipt of a further USD18.7 million of the sale proceeds for the Company’s previously announced sale of its Shoba and Taskuduk oilfields in Kazakhstan.
14 Jan 20
Kazakhstan: Sparrows awarded five-year Tengiz inspection contract
Sparrows Group has secured a five-year contract with Tengizchevroil to deliver specialist lifting inspection services for the Tengiz field in Kazakhstan.

Kazakhstan - more news

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