Kazakhstan eyes KZT350bn investment in oil and gas sector in 2026

As of January 1, 2025, Kazakhstan’s proven reserves stood at 4.2 billion tons of oil, 1.7 trillion cubic meters of free natural gas, and 2 trillion cubic meters of dissolved gas.

Between 2020 and 2025, 41.3 trillion tenge was invested in the hydrocarbon sector. In 2026, we plan to attract an additional 350 billion tenge in investment. These funds will be used for geological exploration, the modernization of production infrastructure, and the introduction of new technologies, said Akbarov.

According to the deputy minister, by late 2025, 18.7 billion tenge had been spent on training Kazakhstani specialists, 10.1 billion tenge on research and development, and 45.5 billion tenge on the socio-economic development of the regions. Nearly 65,000 people are currently employed in hydrocarbon exploration and production, with the average monthly salary in the oil and gas sector amounting to 1.2 million tenge.

Akbarov added that Kazakhstan’s reserves of standard fuel equivalent are currently estimated at 76 billion tons, of which 70 billion tons are concentrated in four major prospective basins: the Pre-Caspian, Ustyurt-Buzachi, Mangyshlak, and South Turgay sedimentary basins.

To date, 317 subsoil use contracts are in force in Kazakhstan’s hydrocarbon sector.

Earlier, Qazinform reported Kazakhstan is to develop 30 new oil and gas fields.