Kazakhstan's 12th hydrocarbon licensing round puts 30 exploration tracts across roughly 53,000 sq km on offer, backed by more than 9 billion barrels of oil equivalent. With signature bonuses from USD 30,000 and minimum work commitments from USD 2 million per block, the 29 July auction opens a wide range of entry points alongside bilateral partnerships already advancing with BP, Sinopec, Eni, Chevron and Shell.
What's on offer
Kazakhstan's 12th hydrocarbon auction round comes as the government expands its exploration push through two channels: competitive licensing and study-led bilateral partnerships with international operators. The Ministry of Energy plans to hold the electronic auction on 29 July 2026, offering 30 tracts across about 53,000 square kilometers in Aktobe, West Kazakhstan, Atyrau, Mangystau, Ulytau and Kostanay. The deadline for submitting applications is 30 June 2026.
Terms and commitments
Signature bonuses range from around USD 30,000 to about USD 260,000 for Tyubedzhik, which carries discovered reserves. Minimum work commitments range from USD 2 million to USD 3 million per block, with Ustyurt-4 at USD 8.5 million. Work programs are structured around staged de-risking: reprocessing of legacy seismic, new 2D seismic, 3D seismic where specified, and at least one exploration well. Exploration terms run up to six years, with production terms of up to 25 years. The offered acreage is associated with more than 9 billion barrels of oil equivalent of estimated hydrocarbon resource potential based on preliminary geological assessments.
International interest
Kazakhstan is attracting renewed international interest through both the auction process and bilateral partnerships. State companies KazMunayGas and QazaqGaz have been advancing exploration through agreements with BP, Sinopec, CNOOC, CNPC, Eni, Chevron, Shell and other partners. Together, the two channels provide a range of entry points for companies looking to build or expand upstream positions in Kazakhstan.
Where the opportunity sits
The Precaspian Basin blocks offer the strongest infrastructure setting, with proximity to the Caspian Pipeline Consortium route and the wider KazTransOil system. North Ustyurt offers a larger-scale exploration opportunity, with BP's recent engagement on both the Kazakh and Uzbek sides of the basin pointing to renewed attention on deeper concepts. South Torgay is a proven oil and gas province around the Kumkol-Akshabulak fairway where CNPC has an established presence through PetroKazakhstan. Mangyshlak provides a focused opportunity set around the Tyub-Karagan peninsula, including the discovered Tyubedzhik field near the established Dunga production trend.
Why it matters
With national crude and condensate output centered on Tengiz, Kashagan and Karachaganak at around 2.15 million barrels per day, the 12th round can widen the operator base and create additional exploration options for Kazakhstan's post-2030 supply profile.
Author:
Swapnil Babele
Vice President, Upstream Research
swapnil.babele@rystadenergy.com
This article draws on insights from our latest commentary, "Kazakhstan auction tests exploration beyond legacy megaprojects". The full analysis is available to clients via the Client Portal.