A large oil and gas field has been discovered in Atyrau Region, Kazakhstan, with reserves potentially comparable to those of the Kashagan field.

Kazakhstan Announces Discovery of Major Oil and Gas Field, "Giant" Kashagan

According to Kurmangazy Iskaziyev, First Deputy Chairman of the Management Board of Kazakhstan's National Oil and Gas Company (KazMunayGas), a major oil and gas field has been discovered in the Atyrau Region of Kazakhstan, with reserves potentially comparable to those of the country's largest oilfield — the Kashagan field.

The field is located on the Zhylyoi Platform near the Caspian Sea coast. As it lies on land, development costs are expected to be significantly reduced; however, the oil reservoirs are believed to be deeply buried.

For decades, the Kashagan field has symbolized both Kazakhstan’s petroleum wealth and the technological challenges involved in its extraction. This offshore field has solidified Kazakhstan’s status as a major crude oil producer, but it is also notorious for cost overruns, project delays, and engineering difficulties associated with operations in the northern Caspian Sea. Any newly discovered onshore field that can be compared to Kashagan immediately raises expectations of avoiding some of these limitations while achieving similar scale.

The Kashagan field, located in the northern Caspian Sea, is one of the largest oilfields discovered globally in recent decades. Its recoverable oil reserves are estimated at 9 to 13 billion barrels, with natural gas reserves exceeding 1 trillion cubic meters. The field is being developed by a consortium known as North Caspian Operating Company, which includes Shell, TotalEnergies, ExxonMobil, Eni, China National Petroleum Corporation (CNPC), Japan International Oil Development Co., Ltd. (INPEX), and Kazakhstan’s National Oil and Gas Company (KazMunayGas).

Iskaziyev stated during the Central Asia Geoscience and Exploration Forum that the resource potential of the Zhylyoi Block — including Karaton, Kazhygali, and Zhylyoi — is estimated at 4.7 billion tons, with a total geological potential reaching up to 20 billion tons of oil equivalent.

At this stage, these figures reflect geological potential rather than proven, recoverable reserves. In Kazakhstan, as elsewhere in the world, the transition from estimation to production depends on factors such as depth, pressure, sulfur content, and drilling and processing costs. Large hydrocarbon discoveries may require several years to achieve commercial viability, especially in high-pressure or technically complex formations.

KazMunayGas has already begun exploration activities. The company drilled a well 5,750 meters deep in the Karaton field and, in collaboration with Tatneft, identified five promising target areas. During testing in one of these areas, a gas flow containing hydrogen sulfide was recorded.

The primary challenge remains the depth of the hydrocarbon reservoirs, which may reach up to 9 kilometers. According to Iskaziyev, these conditions resemble those of projects undertaken by KazMunayGas’s partners in China, including Sinopec and CNPC, where drilling depths have reached up to 11 kilometers.

The company plans to expand geological exploration into neighboring regions, including Kazhygali, and is currently negotiating underground resource use contracts.

Timing is critical. As existing fields mature, Kazakhstan faces increasing pressure to demonstrate that its oil industry can still deliver large-scale new projects. A major onshore oil and gas discovery in the Atyrau region would reinforce the area’s central role in the national energy system and help sustain export volumes and attract investment.

During the forum, KazMunayGas signed a memorandum of understanding with BP to cooperate on geological exploration and development in the Ustyurt Block of Mangystau Region.

Earlier reports from Central Asia Times indicated that Kazakhstan is engaged in international arbitration with the North Caspian Operating Company consortium over environmental issues related to the Kashagan project.

This dispute reflects a broader pattern. Kazakhstan’s experience with the Kashagan field shows that large-scale oil projects rarely proceed smoothly. While the field brought immense reserves, it also led to years of delays, technical setbacks, and regulatory friction. These historical legacies may influence how officials and investors perceive any new discovery deemed comparable to the nation’s largest oil asset.

Source: Central Asia Times

Original: toutiao.com/article/1861675837286400/

Disclaimer: The views expressed in this article are solely those of the author.