The Economy of Kazakhstan
Tengiz, Kashagan and Oil Dependence
Giant fields like Tengiz and Kashagan, developed with foreign partners, make oil the backbone of exports and government revenue.
Oil built modern Kazakhstan.
Fields
Tengiz, Karachaganak and the offshore Kashagan field are among the world’s large fields.
Partners
Chevron, ExxonMobil, Shell, Eni and others work with state firms.
Kashagan
A very difficult offshore project that began production in 2016 after years of delays and huge cost overruns.
Dependence
Oil makes up a majority of exports.
A delayed giant
Kashagan cost tens of billions of dollars and started production years late.
Assuming resource projects are always smooth
Complexity can cause delays.
Key takeaways
- Tengiz and Kashagan are giant fields.
- Foreign firms are partners.
- Kashagan was delayed.
- Oil dominates exports.
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