AAPG FOUNDATION PRATT CONFERENCE: PETROLEUM PROVINCES, 21st CENTURY
January 12-15, 2000
San Diego, California

IGOR EFFIMOFF, Pennzoil Caspian Corporation, Baku, Azerbaijan

Abstract: Future Hydrocarbon Potential of Kazakhstan

Most of Kazakhstan's oil and gas reserves have not been developed. Many areas remain under or unexplored. It is anticipated that a considerable portion of Kazakhstan's potential oil and gas reserves will be located offshore in the Caspian Sea. Future reserves will be discovered and developed utilizing international technology that was unavailable to the nation during the Soviet period and as commercially justified with better access to world markets.

To date some 250 oil and gas accumulations have been identified in Kazakhstan of which approximately 110 have been developed. Four basins/provinces, considered to have the most potential for undiscovered reserves, are reviewed. These are listed in order of descending potential: (1) North Caspian (Peri-Caspian) Basin; (2) Middle Caspian Basin-Mangyshlak Province; (3) South Turgay Basin; and (4) North Ustyurt Basin.

Kazakhstan's cumulative oil production is estimated to be 3.8 billion barrels with approximately 13.2 billion barrels in identified reserves. Probabilistic estimates of undiscovered oil/condensate are in the 14 billion-barrel (P95) to 89 billion-barrel (P5) range with the mode (most likely) at 26 billion barrels. Potential gas reserves are equally impressive with identified reserves at 75.4 trillion cubic feet. Probabilistic estimates of undiscovered gas are in the 66 trillion cubic feet (P95) to 495 trillion cubic feet (P5) range with the mode (most likely) at 124 trillion cubic feet. The bulk of undiscovered oil/condensate and gas reserves are estimated to be attributable to Kazakhstan's portion of the North Caspian (Peri-Caspian) Basin.

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