On May 14th, an article titled "Kazakhstan is Striving to Modify Agreements with World Giants" was published on the website of the Carnegie International World Foundation. The current layout of this article is as follows.
At the beginning of this year, Kazakhstan's average daily oil production exceeded 203,000 barrels, which reminded the country's leaders that the oil industry needed major reforms. Since 2020, Kazakhstan's fiscal deficit has continued to increase, reaching 3% of its GDP last year. Meanwhile, according to the contracts from the 1990s, Western oil giants obtained nearly 100% of Kazakhstan's oil resources.
In the first few years after independence, Kazakhstan signed multiple agreements with companies such as Chevron, Eni Group, Shell, and ExxonMobil to jointly develop three oil and gas reserves in Kazakhstan, which brought billions of dollars in investment and advanced technology to the country and created millions of jobs. Approximately 50 billion US dollars was invested in the Kashgan oil and gas reserve, 27 billion US dollars in the Karachagan oil and gas reserve, and about 48 billion US dollars for the expansion of the Tanaki oil field. Adding up these investments, Kazakhstan has become one of the world's largest oil producers, currently producing 100 million tons of oil annually.