We want to increase KazMunayGas' stake in Tengiz Field – Askhat Khasenov

He shared this in an interview with the Uade program on the Jibek Joly TV channel.

“What sets KazMunayGas apart is its focus on exploring and drilling deep sedimentary formations. Not every company can do this because, first and foremost, it requires significant financial resources. For instance, within the Torgai Paleozoic project in the Kyzylorda region, we are drilling to a depth of 5,500 meters. Additionally, drilling has begun in the pre-salt section of Karaton in the Atyrau region, which will also reach 5,500 meters. In other words, the national company is now actively conducting geological research on deep formations and layers,” said Khasenov.

He also noted that the national company accounts for 26% of the country's total oil production, with the remaining share produced by private companies.

"The main priority for the national company is to increase oil reserves. Since last year, we have been conducting drilling operations in this area. Currently, we have started geological exploration drilling in the Atyrau, Kyzylorda, Aktobe, and Mangistau regions, and this work will continue. These areas are not yet classified as oil fields because the presence of oil has not been confirmed. Right now, we are conducting research on estimated but unproven reserves of 800 million tons," Khasenov said.

The Chairman of the Board also stated that KazMunayGas holds a 20% stake in the Tengiz oil field and that any potential increase in this stake requires careful evaluation.

"Of course, as a national company, we are interested in increasing this stake," he added.

Earlier, Kazinform News Agency reported that KMG improved its rating in International Climate Reporting by CDP.