Kazakhstan Oil and Gas Upstream Companies (2024 - 2029)

Kazakhstan Oil and Gas Upstream Market Companies Summary

The oil and gas upstream market in Kazakhstan is expected to see substantial growth in the coming years, driven by an increase in natural gas production and plans to boost oil production. However, the high sulfur content in large fields like the Kashagan field is predicted to decrease demand and increase refining costs. Onshore projects are anticipated to continue being the most utilized deployment locations due to their cheaper access to oil resources. Despite Kazakhstan's vast onshore reserves in the Caspian Sea, high levels of hydrogen sulfide and production costs are hindering growth in offshore projects. Significant oil discoveries in southern Kazakhstan present a potential opportunity for corporations. Economically viable extraction could lead to a boom in oil production. An increase in oil production is expected to drive growth in the sector and be a key driver for the industry in the forecast period. Onshore oil and gas fields are projected to dominate the market due to the concentration of oil and gas basins under the surface and the economic viability of these fields. The major companies in the Kazakhstan oil and gas upstream market include national and international corporations.