Results of the Year

Era of Complex Deals: How Kazakhstan Can Attract Investment in the Energy Sector

#6 (156), December 2025 special issueEra of Complex Deals: How Kazakhstan Can Attract Investment in the Energy Sector

Kazakhstan is entering a phase in which the quality of investment decisions will determine the pace of development across the entire energy sector for the decade ahead, as well as the country's role within the global energy system. According to BCG analysis, Kazakhstan will require an additional $94 billion in investments by 2029, and current conditions present a unique window of opportunity to attract this capital more effectively than in previous years — supporting sustainable economic growth and helping the country achieve its modernization objectives. 

Shymkent Oil Refinery: A Rich Past and Impressive Future

#6 (156), December 2025 special issueShymkent Oil Refinery: A Rich Past and Impressive Future

In 2025, one of the key companies of Kazakhstan's oil refining industry—the Shymkent Oil Refinery (PetroKazakhstan Oil Products LLP, PKOP)—celebrated its 40th anniversary. Over four decades, the plant has evolved from producing its first batch of gasoline to becoming a modern, high-tech complex that accounts for up to 40% of all petroleum product output in the country. Forty years is not merely a milestone, but an important marker that provides an opportunity to reflect on achievements, evaluate the journey traveled, and look confidently toward the future.

Next-Generation Tengiz: How the FGP-WPMP Is Redrawing Kazakhstan❜s Oil Map and Building an Industrial Legacy

#6 (156), December 2025 special issueNext-Generation Tengiz: How the FGP-WPMP Is Redrawing Kazakhstan❜s Oil Map and Building an Industrial Legacy

In January of this year, Tengizchevroil (TCO) took another step forward as safe production began at the new Third Generation Plant (3GP) at the Tengiz field. The 3GP facility is part of the integrated Future Growth Project - Wellhead Pressure Management Project (FGP-WPMP). FGP is designed to increase TCO’s total production by an additional 12 million tons of crude oil per annum, while WPMP is designed to keep existing Tengiz processing plants at full capacity by lowering the flowing pressure at the wellheads and then boosting the pressure to the existing plants. With all Tengiz facilities operating at full capacity, TCO’s total annual crude oil production is expected to reach approximately 40 million tons per annum.

How Samruk-Kazyna and ExxonMobil Are Shaping the Next Generation of STEM Educators

#6 (156), December 2025 special issueHow Samruk-Kazyna and ExxonMobil Are Shaping the Next Generation of STEM Educators

More than three hundred women from the Atyrau Region have become certified robotics trainers. A final forum of the STEM Hanym project was held in Atyrau—an initiative that, in just a few months, has grown into one of the region’s largest programs for developing engineering and digital competencies among women educators.

From design to implementation: How KMG PetroChem is involved in shaping a gas-chemical cluster in Kazakhstan

#6 (156), December 2025 special issueFrom design to implementation: How KMG PetroChem is involved in shaping a gas-chemical cluster in Kazakhstan

In 2025, KMG PetroChem’s gas-chemical projects achieved several key milestones. Diaz Diyanov, Chairman of the Management Board of KMG PetroChem LLP, notes that the reporting period was marked by the completion of project structuring and contractual procedures, which enabled moving to the initial stage of construction and the practical formation of gas-chemical infrastructure.

How Aktobe Airport Uses Synergy to Transform into a Modern Air Hub

#6 (156), December 2025 special issueHow Aktobe Airport Uses Synergy to Transform into a Modern Air Hub

On a frosty December morning, a Boeing of SCAT Airlines is on final approach to Aktobe Airport. All ground services are standing by, and a fuel truck with the KMG-Aero logo, visible from afar, moves to its starting position. While passengers are leaving the landed aircraft, the pilot in the cockpit calculates the refuelling requirement. At last, the go-ahead for refuelling is given, the vehicle pulls up to the wing, and in less than half an hour, the aircraft is ready to take on new passengers and continue its route.

Petroleum Products Market: Between Regulation and the Transition to Transparency

#6 (156), December 2025 special issuePetroleum Products Market: Between Regulation and the Transition to Transparency

The fuel market has traditionally been one of the key elements of Kazakhstan’s national economy and a condition for social stability in the country. Amid rising domestic demand, mounting pressure from global trends, and the need to modernize refining capacity, the state has been forced to balance regulation and market instruments.

Reform of Kazakhstan❜s Geological Sector Shift to an «All-Inclusive» Model as the Key to an Economic Breakthrough

#6 (156), December 2025 special issueReform of Kazakhstan❜s Geological Sector Shift to an «All-Inclusive» Model as the Key to an Economic Breakthrough

Today, Kazakhstan has a unique resource potential that could drive the country’s economic growth and technological development for decades to come. However, the current model of state governance in geology and subsoil use significantly reduces the efficiency with which natural resources are utilized.

KEBCO: Disputes Over the Taxation of Shipments

#6 (156), December 2025 special issueKEBCO: Disputes Over the Taxation of Shipments

At present, the level of controversy surrounding the use of the KEBCO quotation between business and government agencies has subsided somewhat. This is particularly evident in the context of tax audits related to transfer pricing and determining the cost of raw materials on international markets.

Oil and Gas Labour Market: Trends, Challenges and Forecasts

#6 (156), December 2025 special issueOil and Gas Labour Market: Trends, Challenges and Forecasts

In recent years, Kazakhstan’s labor market has shown structural shifts that reflect the economy’s broader transition toward more technology-intensive and capital-intensive forms of production. This is especially evident in the oil and gas, refining, and gas-chemical industries, which remain key sources of investment, employment, and tax revenues.

KazMunayGas Refining: Expanding Everywhere Expansion Is Possible

#1 (151), February 2025 special issueKazMunayGas Refining: Expanding Everywhere Expansion Is Possible

Mariyam Igisenova, Head of the Automation, Planning, and Operational Control Department at KazMunayGas, discusses the current state and new projects in the oil refining sector.

– Mariyam Zhumabayevna, how would you describe the current state of Kazakhstan's oil refining industry?

– As you know, KazMunayGas operates three oil refineries and one bitumen production plant. In the west, we have the oldest and simultaneously the most technologically advanced refinery in terms of the Nelson Complexity Index—Atyrau Refinery.

Radical Reform of the Fuel Market

#6 (150), December 2024 special issueRadical Reform of the Fuel Market

Armed with the decree of President Kassym-Jomart Tokayev of the Republic of Kazakhstan, "On Measures to Liberalize the Economy," the government aims to implement comprehensive reforms in the production and distribution of petroleum products.

Kazakhstan❜s Oilfield Services Enter the International Market

#6 (150), December 2024 special issueKazakhstan❜s Oilfield Services Enter the International Market

In an exclusive interview with Petroleum, Rashid Zhaksylykov, Chairman of the Presidium of the KazService Association of Oil Service Companies of Kazakhstan, reviews the year's outcomes in the country's oilfield service sector.

Rashid Khasenovich, how would you describe the past year for the oilfield services sector? Can it be considered successful? What notable events took place in the market this year?

Our Association Facilitates Collaboration Among Industry Players, Producers, Consumers, and Government Agencies

#6 (150), December 2024 special issueOur Association Facilitates Collaboration Among Industry Players, Producers, Consumers, and Government Agencies

Gabit Tolkimbayev, General Director of the Association of Producers and Consumers of Petrochemical Products, answers questions for Petroleum.

– Gabit Azhdarovich, what is the potential capacity of Kazakhstan's petrochemical market?

– According to the Bureau of National Statistics under the Agency for Strategic Planning and Reforms of the Republic of Kazakhstan, the market volume for key petrochemical products in 2023 was: for polypropylene – 116,841 tons, polyethylene – 202,300 tons, polyethylene terephthalate (PET) – 77,100 tons.

2022 Industry Results according to the Ministry of Energy

#1 (139), February 2023 special issue2022 Industry Results according to the Ministry of Energy

276 existing HCS contracts

84.2 mln tons of oil produced

64.3 mln tons of oil exported

5 Most Important Events of the Oil Year

#6 (138), December 2022 5 Most Important Events of the Oil Year

During the year, the Caspian Pipeline Consortium restricted oil shipment from its sea terminal in Novorossiysk four times. On March 21, a month after the start of hostilities in Ukraine, the CPC announced that two of the three single-point moorings at the terminal were damaged as a result of a storm on the Black Sea. As a result, Kazakhstan's total daily oil production fell by 14% in April. The repair work lasted a month.