Problems for Kazakhstan at the country's biggest field
Kazakhstan’s biggest field has been an expensive flop. It is a problem for the country. Can Kashagan recover?
The consortium developing Kashagan is being ultra-conservative in its latest predictions in an effort not to add to the disappointments that have blighted the project. But another big disappointment – that the oilfield won’t produce the long-promised output of 1.5 million barrels a day (b/d) – hangs over the project.The latest news from Kashagan inevitably centred on the billions of dollars needed to get oil flowing from the field again. When it was discovered in 2000, the Caspian Sea field, which has recoverable oil reserves of about 13 billion barrels, was the largest oil find in 30 years. On 7 November, it emerged that the North Caspian Operating Company – a consortium of KazManaiGas, Eni
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
