Kazakhstan’s oil and gold reserves expected to last for decades

Kazakhstan’s oil reserves are expected to last for about 50 years at the current production rate. Acting Chairman of the Kazakhstan Geology Committee Kanat Yerubayev announced this on February 13 during a briefing at the Center for Socio-Economic Communications.

According to Yerubayev, more than 4 billion tons of oil are located within Kazakhstan’s territory. Based on current extraction rates, these resources are projected to last approximately 50 years. Gold reserves, described as a strategically limited metal, amount to about 2,300 tons in state accounts and are expected to last around 37 years at current production levels.

Yerubayev noted that exploration of reserves is ongoing, with resources continuously reassessed and underground deposits studied by the state. This process allows for the discovery of new sources and increases the country’s overall potential. He added that it is impossible to determine the exact date when resources may run out, as extraction and reserve renewal continue simultaneously.

Although no exact figures were provided for gas and uranium, Yerubayev emphasized that the country’s development program предусматривает ongoing exploration and the search for new deposits, which could extend Kazakhstan’s resource potential indefinitely.

He also said the Geology Committee, together with other government agencies, is developing strategic programs to transition the economy toward new energy sources and improved processing of existing resources.

Even as oil, gas, and gold reserves may decline, Kazakhstan aims to sustain production and economic growth by discovering new fields and introducing technologies for more efficient resource use.

Earlier, it was reported that the price of Kazakhstan’s oil had dropped to record lows.

E’zoza Olimova