Currently, Kazakhstan is estimated to have about 4 billion 400 million tonnes of oil reserves. This was stated by Yerlan Akbarov, Chairman of the Geological Committee of the Ministry of Industry and Construction of the Republic of Kazakhstan, Trend reports.
“Currently, the country has 4 billion 400 million tonnes of oil reserves. Of this amount, about 2 billion 900 million tonnes belong to the C1 category, which is ready for processing and is already used by existing oil producers. There are also fields where exploration work is ongoing and the volume has not yet been determined. The estimated domestic oil reserve is about 78 billion tonnes,” Akbarov said.
According to the head of the Geological Committee of the Ministry of Industry, the Eurasian project for domestic oil production started in 2022. This project involves the study of the lower sedimentary layer of the Caspian Sea basin. State funds have been allocated for this work and extensive research is underway. The sediments at the bottom of the Caspian Sea are up to 25 kilometres thick, and scientific estimates suggest that reserves there could reach about 1 trillion tonnes.
It is also reported that 83 reserve fields are planned to be auctioned in Kazakhstan.