Kazakhstan is the second worst country for investors, says Yergin

Award winning author of The Prize, Daniel Yergin, says Kazakhstan needs to change what they're offering to secure investments

Kazakhstan's energy sector has accomplished a lot since the central Asian state gained independence from the Soviet Union, with oil output at 1.6m b/d. But the easier oil has gone and investors need better terms now to expand the current projects, according to award-winning author of The Prize, Daniel Yergin. Speaking at the Kazenergy conference in the capital, Astana, Yergin said that oil output has quadrupled since 1991. But the present low oil price makes further investment upstream unattractive and the government also needs to improve the terms it offers investors. And the fields that are producing need more investment in order to grow – money that might not be forthcoming in today’s cli