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Archive special issue
#6 (156), December 2025
Results of the YearEditor❜s Note
Stock of the Year
In this final issue of 2025, we take stock of the year. Among its key achievements, Minister of Energy Erlan Akkenzhenov cited the full completion of the Tengiz expansion project. Read in this issue how that project is reshaping Kazakhstan’s oil map. In February, the country began a shift from administrative price controls on fuels and lubricants to market mechanisms. In this context, an analysis and report on KMG Aero’s role in building air hubs in Kazakhstan will be of interest. We also mark a notable anniversary, the 40th anniversary of the Shymkent Refinery.
Results of the Year
Era 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
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
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
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
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
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
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
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
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
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.
Technology
Rethinking Risk: Why Enhanced Oil Recovery Still Lags and Why It Shouldn❜t
A case for polymer flooding
Polymer flooding is a technology with a proven track record which enhances oil recovery by improving sweep efficiency and the mobility ratio between the injected water and reservoir oil (See Seright & Wang, 2021, for a status review). By rendering the displacement front more homogeneous, it also helps delay and reduce water production, leading to lower handling and disposal costs, which is particularly valuable in mature fields with high water cuts.
Oil Chronicles
Oil Chronicles. October 2025
October 1, Aigul Barmenkulova assumed the position of Finance & Corporate Relations Manager at Shell Kazakhstan. Aigul has worked for more than 16 years in various divisions of Shell Kazakhstan and, since October 2021, has held the position of Head of Corporate Relations.
Forums
Azerbaijan & the Caspian – Digitalisation and AI Driving the Next Energy Era
From Legacy to Smart Fields: How AI is Transforming the Caspian Energy Landscape.
Over 500 delegates from more than 30 countries gathered in Baku for the 2025 SPE Annual Caspian Technical Conference (CTC), reflecting the region’s enduring importance in global energy. Under the theme “Learning from the Past, Rejuvenating Today, Inspiring Tomorrow,” the conference highlighted how digitalisation, AI, and innovation are reshaping exploration, production, and workforce development across the Caspian.
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