Production Sharing Agreements: Balancing Investment and Control The evolution of Kazakhstan’s oil landscape has been shaped by a series of production sharing agreements (PSAs) that define the terms between the state and international oil companies. The question of where this landlocked nation sources its crude reveals a concentrated geography, dominated by aging onshore fields and a handful of massive integrated projects.
Kazakhstan's Deepwater Caspian Oil Potential and Untapped Reserves
The TengizChevrolet project, jointly owned by Chevron and KazMunayGas, extracts crude from the massive Tengiz field, one of the world’s largest oil reservoirs, located near the Caspian shore. With existing reserves maturing, the country is actively pursuing technology and foreign expertise to maximize extraction from aging assets.
The Caspian Pipeline Consortium (CPC) pipeline remains a vital corridor, shuttling crude from the western coast of Kazakhstan to the Russian Black Sea port of Novorossiysk. The government maintains a strategic stake through KazMunayGas, ensuring continued influence over the sector’s direction.
Kazakhstan's Deepwater Caspian Oil Potential and Untapped Reserves
The Kashagan Field: Crown Jewel of Production Since its phased startup in 2016, the Kashagan field has rightfully claimed the throne as Kazakhstan’s single largest oil producer. This includes exploring ultra-deepwater blocks and implementing water injection and other methods to sustain output levels at key fields like Kashagan and Tengiz.
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