Kazakhstan eyes KZT350bn investment in oil and gas sector in 2026

Kazakhstan plans to attract 350 billion tenge in new investments for its hydrocarbon sector in 2026 to bolster exploration and infrastructure. This initiative follows a massive 41.3 trillion tenge investment cycle between 2020 and 2025 aimed at securing the country's energy future and maximizing its vast reserves. For the global oil and gas market, these developments underscore Kazakhstan's role as a major energy hub with significant untapped potential in its primary sedimentary basins.

Deputy Energy Minister Yerlan Akbarov announced that Kazakhstan intends to channel 350 billion tenge into the oil and gas industry in 2026, building on the 41.3 trillion tenge invested over the previous five years. These upcoming funds are earmarked for critical activities including geological exploration, the modernization of existing production infrastructure, and the implementation of advanced technologies. As of early 2025, the nation’s proven reserves include 4.2 billion tons of oil and a combined 3.7 trillion cubic meters of natural gas, highlighting the scale of the resources being managed.

The ministry highlighted the geographical focus of Kazakhstan's energy potential, noting that 70 billion tons of standard fuel equivalent are concentrated within four primary prospective basins: the Pre-Caspian, Ustyurt-Buzachi, Mangyshlak, and South Turgay. Currently, there are 317 active subsoil use contracts governing the sector. To further expand production capacity, the government has signaled plans to develop 30 new oil and gas fields, ensuring a steady pipeline of projects to maintain its status as a leading producer.

Beyond infrastructure and extraction, the sector has made significant contributions to the national economy and social fabric. By the end of 2025, expenditures included 18.7 billion tenge for training local specialists, 10.1 billion tenge for research and development, and 45.5 billion tenge for regional socio-economic development. The industry currently employs approximately 65,000 people, with workers earning an average monthly salary of 1.2 million tenge, reflecting the high economic value and strategic importance of the hydrocarbon sector to the Kazakhstani workforce.