Oil Chronicles
Oil Chronicles. July 2026
July
A plan for the development of promising new hydrocarbon fields through 2035 has been approved in Kazakhstan. As Minister of Energy, Yerlan Akkenzhenov reported at a government meeting that the main aim is to create a systematic, phased mechanism for developing new oil and gas fields to ensure a sustained buildup of the hydrocarbon resource base. In all, the plan covers 30 subsoil blocks.
For the first time, Zhaikmunai is beginning to refine the crude it produces at the Pavlodar Petrochemical Plant. In July, the first batch of 3 thsd. tons from the Chinarevskoye field in the West Kazakhstan region will be sent to the plant. Previously, Zhaikmunai supplied crude to mini-refineries and to the Kondensat refinery. According to experts' estimates, the profitability of refining Zhaikmunai crude at the Pavlodar plant is higher than at other refineries, thanks to the transport tariff, refining costs, and petroleum product yields.
A judge of the AIFC Court has set aside a decision by another judge of the AIFC Court that had earlier permitted the recovery of Gazprom's assets in favour of Naftogaz Ukraine on the territory of Kazakhstan. This does not mean the setting aside of the ICC (International Chamber of Commerce) arbitral award on recovery itself, but only of the AIFC Court's decision on its recognition and enforcement on the territory of Kazakhstan. Justice Lord Faulks KC concluded that the AIFC Court has no jurisdiction to recognise and enforce this arbitral award.
The court's key argument is that the AIFC Court is not an ordinary Kazakhstani court of general jurisdiction. It is independent and does not form part of Kazakhstan's judicial system, and its powers are limited by the Constitutional Law on the AIFC. The court also pointed out that the parties' consent to ICC arbitration does not constitute consent to the AIFC Court's jurisdiction. In other words, if the parties have chosen the ICC, that does not automatically confer the right to come to the AIFC Court for recognition and enforcement of such an award.