Kazakhstan may be on the verge of discovering a new energy giant, as officials reveal a massive carbonate formation with potential comparable to the legendary Kashagan oil field.

Deputy Chairman of the Management Board of KazMunayGas Kurmangazy Iskaziyev said that a large carbonate massif has been identified within the Zhylyoi platform, covering the Karaton, Kazhygali, and Zhylyoi areas, The Caspian Post reports via Kazakh media.

“The discovered carbonate structure mirrors the configuration of the Kashagan field, with an estimated resource potential of 4.7 billion tons of hydrocarbons,” Iskaziyev said. “Unlike Kashagan, which is located offshore and requires significant capital investment, this formation is on land - substantially reducing development costs.”

Overall, the total resource potential of the Zhylyoi carbonate massif is estimated at an impressive 20 billion tons of oil equivalent, positioning it as one of the most promising energy prospects in the region.