KazMunaiGas Vice Chairman Tiyesov has spoken in the Mazhilis informing the deputies that Kazakhstan will face a decline in oil production should no new fields be discovered in the upcoming decade.
Exxon Mobil, an American major multinational oil and gas corporation and world’s third largest company by revenue, may take over as Kashagan's new operator.
Drilling of five new wells by MangistauMunaiGas in Kalamkas and Zhetybai fields is probably related to demand for new supplies to the bitumen plant in Aktau: expert.
Preliminary results of geological exploration of the new Kazakhstan oil field have showed the total anticipated reserves of around 120 million tons (880 million barrels).
Kazakhstan President Nursultan Nazarbayev has instructed his government to return the oil fields that are not being put to use back into the state ownership.