KazMunayGas Lifts Output 9% as Foreign Majors Boost Investment

Kazakhstan’s President Kassym-Jomart Tokayev met with KazMunayGas Chairman Askhat Khassenov to review the company’s results for January–July 2025, according to Akorda. The state energy giant reported a 9% year-on-year increase in crude oil and condensate output, reaching 15.3 million tons, alongside a 19% rise in natural and associated gas production to 6.7 billion cubic meters.

Oil transportation volumes totaled 49 million tons, including significant exports: 1.1 million tons to Germany, 0.9 million tons to Azerbaijan, and the first-ever shipment of 85,000 tons to Hungary. Domestic refineries processed 10.4 million tons of oil, while light petroleum product output hit a record 7.8 million tons, up nearly one million tons from last year.

Khassenov highlighted ongoing exploration, with seven new wells scheduled for 2025, three already drilled. Notably, China’s CNOOC has entered Kazakhstan’s upstream sector for the first time, while Sinopec is preparing large-scale projects. International majors including Shell, Chevron, and BP are also pursuing opportunities in the Atyrau, Aktobe, and Mangistau regions.

Several flagship initiatives are advancing, such as expanding gas processing at Zapadnaya Prorva, Urikhtau, and Rozhkovskoye fields; commissioning the Kenderli desalination plant, already supplying water to Zhanaozen; constructing a 247 MW hybrid power plant; and launching a $7.4 billion polyethylene plant with a planned annual capacity of 1.25 million tons.

Khassenov also updated the president on KazMunayGas’ regional social programs. In response, Tokayev instructed the company to maintain systematic geological exploration efforts and accelerate the rollout of major investment projects.

The strong results underscore KazMunayGas’ role in supporting Kazakhstan’s energy security, export diversification, and industrial development, while drawing significant foreign investment from both Asian and Western partners.

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