BAKU, Azerbaijan, November 4. Kazakhstan plans to put 112 subsoil areas up for electronic open auctions in 2026 for geological exploration, Kazakhstan's Energy Minister Yerlan Akkenzhenov said.
According to the press service of the Government of Kazakhstan, Akkenzhenov made the statement at a press conference in Astana today.
"112 is a large number for one year, and in the very near future we will see some positive results. The results of geological surveys and drilling will be available to the Ministry of Energy for assessment," he said.
According to the minister, 126 areas were put up for auction in 2023-2025. Both Kazakh and foreign companies take part in the auctions, including investors from China and neighboring countries.
Particular attention is paid to investors' commitments regarding geological exploration of the areas, drilling, the development of local content, procurement of goods and services, as well as personnel training.
Chairman of the Management Board of KazMunayGas (KMG) National Company Askhat Khassenov noted that the company is implementing a geological exploration program covering 47 areas and 23 projects, with estimated resources of 4.7 billion tonnes of oil equivalent.
The national company is also conducting seismic surveys covering 60,000 linear kilometers. The studies will extend to deep geological formations at depths of up to 8,000 meters.
The work is aimed at discovering new deposits and replenishing the country's resource base.
