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Kazakhstan tries to revive its flagging upstream

Slower economic growth and an array of problems in the oil sector are prompting the government to make changes

An economic slowdown – caused by the stagnant energy sector and falling demand for Kazakh exports in Russia and China – has prompted Kazakhstan’s government to overhaul its regulatory approach and improve the investment climate in the country’s energy sector.While the country’s considerable untapped reserves are a draw and Kazakhstan remains a reasonable place to do business for large oil operators, the situation on the ground is tough for smaller operators. Costs can be prohibitive and getting projects moving can take too long.The failure to start commercial production at the giant Kashagan field, in the Caspian Sea, has led to a shortfall in the country’s overall oil output and budget reve

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