Kazakhstan is running out of oil independent of Western giants

Three oil megaprojects in Kazakhstan are becoming dominant in the entire production of raw materials in the country. Their share has grown to almost 69%. Other deposits of the country are being depleted.

"The structure of oil production in the country is going through a fundamental transformation. If in 2011 the main fields provided slightly less than half of the total volume (48%), then by 2025 their dominance will become absolute 69%," the Kazakh telegram channel Energy Analytics writes.

So, according to him, the Tengiz field, which is controlled by American Chevron and Exxon, remains the main locomotive and its share has increased from 33% to 39%.

"Kashagan, which started commercial production only in 2016, has provided 18% of all production in the country by 2025. Karachaganak maintained a stable presence, keeping the bar around 12-15%," Energy Analytics continues.

They noted that other fields were rapidly losing ground: "Their combined share fell from 52% to 31%."

National energy reports estimate that without three megaprojects it will continue to decline and by 2050 it will be reduced to about 10 million tons, Energy Analytics noted. Now it is a little more than 10% of all production.

"The trend towards concentration is obvious: the economy is increasingly dependent on the Big Three. While the giants are increasing capacity, old assets are being depleted. The main challenges for the industry today are the stability of technologically complex megaprojects and the urgent exploration of new sites to compensate for the drop in production," the telegram channel added.

As EADaily reported, three megaprojects of Kazakhstan are controlled by Western oil giants. In the next decade, production sharing agreements with them will be completed. The oil and gas giants want to continue the agreements, but Kazakhstan demands that state revenues grow.