Potential for both onshore and offshore exploration
Our quest to secure Kazakhstan energy needs led us to explore and discover Oil & Gas fields in western Kazakhstan. In 2008-2015, we made a significant discovery of gas reserves in Zhetybai in Mangistau Region of the Republic of Kazakhstan.
Further discoveries in Zhetybai have bolstered Kazakhstan’s energy security, accelerated Kazakhstan’s transition towards a greener gas economy, and made us a pioneer in oil and gas exploration and production.
Kor-tazh and Caspian International Oil Corporation are bringing three more fields onto production, setting new global benchmarks for global costs. producing 30 million metric standard cubic meters per day (MMSCMD) of gas, contributing ~30% of gas production in Kazakhstan.
Energy Security
Through our joint ventures and partners, we have put on production in the Zhetybai Oil fields
These fields now account for 30% of Kazakhstan’s oil and gas production, and will emerge as a major contributor to Kazakhstan’s energy security, particularly in times of significant global energy crisis.
Kor-tazh Since its inception of Zhetybai Oil fields, the field has supplied nearly 2.8 trillion cubic feet of natural gas and about 33 million barrels of crude oil to consumers in the country. This has substituted over US$ 40 billion of energy imports – saving precious foreign exchange for Kazakhstan.