ALMATY, Sept. 17 (Xinhua) -- Kazakhstan's proven oil reserves are sufficient for about 55 years at the current production rate, the Kazinform news agency reported Thursday, citing the country's Energy Ministry.
The estimate is based on reserves as of Jan. 1, 2025, and annual oil production figures, the ministry noted, adding that the reserves are replenished through the exploration of new fields and reassessment of existing ones.
Kazakhstan currently has 190 oil fields under development, with recoverable balance reserves of 4.26 billion tonnes and another 170 million tonnes of off-balance reserves, the ministry said.
Over the past five years, geological exploration, reserve reassessment and the registration of new fields have increased the country's reserves by 404.7 million tonnes, including 66.4 million tonnes from fields registered for the first time. From 2020 to 2024, 38 hydrocarbon fields were registered with the state for the first time, according to the ministry. ■