2.500
%
Uncertain
105
mm boe
53
%
Kyrgyzstan has a long history of petroleum exploitation, but output has declined. Governance is increasingly centralised under President Japarov, and secondary-sanctions risk linked to Russia has grown. Outlook maintained because governance and sanctions risks leave the direction unclear. Outlook: Uncertain. Risk premia unchanged at 2.5%.
October 7, 2026
Asia - Central
mm bbl
bcf
Central Asia, west of China, south of Kazakhstan.
PSC/PSA
Standard Production Sharing Contract ("PSC") type regime, with most key terms negotiable, although a number of fixed indirect taxes also exist. Royalty and income tax are fixed and payable; for profit oil splits in the most recent ventures, the contractor is entitled to 70% of incremental oil until cost recovery (R factor <1) and 50% thereafter (R factor >1).
President Sadyr Japarov has centralised power, and snap parliamentary elections were held in November 2025. US and UK guidance cite the 2022 nationalisation of the Kumtor gold mine, weak rule of law and corruption, along with growing exposure to Western secondary sanctions over the re-export of goods to Russia. Kyrgyzstan produces minimal oil and gas and imports fuel from Russia. Hydropower dominates electricity supply, with the Kambarata-1 project seeking finance.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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