Kazakhstan plans to drill around 320 exploration wells by 2029

Kazakhstan plans to drill around 320 exploration and appraisal wells by 2029 to discover new oil and gas fields and replenish the country's resource base, Report informs, citing the republic's Ministry of Energy.

According to Vice-Minister of Energy Yerlan Akbarov, increasing drilling volumes should ensure new geological discoveries and the replenishment of hydrocarbon reserves. According to the ministry's forecasts, the volume of exploration and appraisal drilling in 2026 may amount to about 80 wells, and reach 120 wells annually in 2027-2028.

Special attention will be paid to under-explored sedimentary basins, which, according to the ministry's assessment, have significant oil and gas potential. The procedure for granting such blocks has been simplified: after receiving an application, the Ministry of Energy must hold an auction within 10 working days.

The work program provides for conducting seismic exploration work on at least 30% of the block's territory in the first three years, followed by the drilling of exploration wells.

One of the priorities will also be increasing the share of Kazakh goods and services in the drilling industry.

Akbarov emphasized that the Kazakh authorities expect to form a stable and competitive market for drilling services. It is expected that the implementation of the plans will make it possible to increase reserves, develop local production, create qualified jobs, and ensure additional tax revenues.