Kazakhstan’s oil major Chevron has competed expansion works at the Tengiz oil field, costing around USD 48 bln. By mid-2025, production at the field is expected to reach 1 mln barrels per day, up from the current 700,000. Further, the Kazakh finance ministry announced it plans to issue USD 13.2 bln this year, compared to USD 10.7 bln last year. The largest planned placement, of almost USD 1 bln, will be of 10 year bonds.