Kazakhstan has secured a partnership with Chevron, a major American energy corporation, to aid in the discovery of new gas reserves, Trend reported. QazaqGaz, the national gas company, has recently entered into an investment agreement with Chevron to explore gas volumes at the Zhalibek site in the Aktobe region.

The initial phase of this collaboration will involve the reprocessing and interpretation of previously conducted seismic exploration work, funded by Chevron. Future plans include identifying promising areas and determining the location of new wells for further study.

Kazakhstan’s sedimentary basins are continuously being explored for further geological potential. Promising areas identified are incorporated into the State Subsoil Fund Management Program. For regions under QazaqGaz’s jurisdiction, the national company seeks to negotiate with potential investors for joint exploration work, ensuring 100% carry financing from partners with the necessary expertise and financial capabilities.

Currently, there are no plans to launch new gas fields within the year. Chevron Corporation, the largest integrated energy company in the United States, operates major fields with proven reserves in the US, Australia, and Kazakhstan.

In 2023, Kazakhstan produced 59.1bn cubic meters of raw gas. Out of this, the country’s oil refineries generated 29.8bn cubic meters of commercial gas. The domestic market received 19.4bn cubic meters, while 4.8bn cubic meters were used for technological needs. Additionally, 22.2bn cubic meters of raw gas were reinjected underground to maintain reservoir pressure, and 5.6bn cubic meters were exported.