News 2023March 2021
The largest oil and gas field in the last three decades was discovered in the Mangystau region of Kazakhstan, on the coast of the Caspian Sea. This is the largest field discovered since the country's independence. The field, where the exploration well gave a powerful flow of oil, is being developed by Meridian Petroleum.
In another encouraging detail, the oil in the field appears to have a low sulphur content compared to oil produced elsewhere in Kazakhstan, potentially making it easier to refine and transport. Attempts to bring oil pumped from the offshore Kashagan field to the market for 10 years have been seriously hampered by its corrosive nature.
President of Meridian Petroleum Baltabek Kuandykov called the discovery of the field a truly historic event for the country. Governor of the Mangystau region Serikbay Trumov said that the field will provide a powerful impetus to the socio-economic development of the region and create new jobs.
However, officials have warned that further research will be required to determine the potential size of reserves at the field, named after prominent Soviet oilman Khalel Uzbekgaliev.