Chinese investors win big in Kazakhstan’s latest oil block auction
Chinese-linked companies have emerged as major winners in Kazakhstan’s latest online auction of hydrocarbon blocks, securing rights to half of the available sites, according to the country’s Ministry of Energy.
Four blocks for hydrocarbon exploration and production were awarded in the subsoil use rights auction. The winning companies are as follows:
- Earth Oil & Gas LLP – Sarysu block in the Kyzylorda and Turkestan regions.
- Taraz Petroleum LLP – Kokoi block in the Zhambyl region.
- Kazakhstan Dinghua Energy Co., Ltd. – Ustyurt site 2 in the Mangystau region.
- Almaty Oil Ventures LLP – Zharkent site in the Zhetysu and Almaty regions.
Earth Oil & Gas LLP, registered in July 2024, is co-owned by Hong Kong Bai Li Oil & Gas Limited and Kazakh businessman Ramil Kimurov. Kimurov previously owned Priority Oil & Gas, a geological exploration company. Nearly all of its shares (99.993%) were later acquired by Maten Petroleum, which is owned by Sino-Science Netherlands Energy Group B.V., a Chinese-Dutch energy firm.
Taraz Petroleum LLP, registered in November 2023 in the Turkestan region, lists Serik Myrzabekov and Sattar Mutalkhanov as its owners. Its business activity is described as the production of crude oil and associated gas.
Kazakhstan Dinghua Energy Co., Ltd., registered in August 2024 at the Astana International Financial Centre (AIFC), is solely owned and led by Li Jie. The company’s activities include crude oil and gas production (excluding methane), and extraction of precious and rare metal ores.
Almaty Oil Ventures LLP, established in December 2023, is co-owned by Tengri Partners (Kazakhstan), Bekzhan Safinov and Daniyar Kauldashev. Tengri Partners is part of the Netherlands-based Tengri Partners International B.V.
The electronic auction was initially announced on Feb. 28. The Ministry of Energy also reported that no successful bids were submitted for five of the auctioned blocks. These include:
- Aiyrtau II (Vostochny) in the Atyrau region.
- Tyubedzhik (Karakum) in the Mangystau region.
- Yuzhno-Gremyachenskoye in the West Kazakhstan region.
- Karatusai in the Aktobe region.
- Darinskoye in the West Kazakhstan region.
