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Kurmangazy (up to 1991 - Kulalinskaya) is an oil and gas and condensate field in Kazakhstan, it is located in the Kazakhstan sector of the North Caspian shelf. The nearest town is located to 80 km, it is a port of Bautino, Mangistau region. The area of Kurmangazy is 1632 km ².

Kurmangazy is located in the offshore region of Kazakhstan; the water depth is from 5 to 7 m. The bottom relief has small deviations with increasing water depth to the south
The Jurassic-Cretaceous sediments are distinguished as the most likely oil-petroleum complex structure of Kurmangazy but according to the seismic study materials the explored area does not exclude hydrocarbons deposits in the Triassic sediments. The expected reservoir pressure ranges within 150-230 atm.

The Jurassic and Cretaceous main long-term levels are at depths from 300 to 1200 meters. The specific interest is the Triassic sediments occurring at depths of 1200-2000 meters. Water depth within the structure of Kurmangazy averages about 5 meters.
The geological prospects of Kurmangazy are estimated by analogy with deposits of Buzachi Island. The most similar geological type to Kurmangazy is the overland Kalamkas. In contrast to the nearby Kashagan field, Kurmangazy is a supra-salt field. This will greatly facilitate the development of the block, because it does not require penetration through the salt layer.
The works on the construction of the first exploration well in the contract area were completed in June 11, 2006.
The obtained results of the research showed that the actual parameters of the structure differ from the design model.
The data obtained during drilling will be the basis for further research aimed at clarifying the geological model of the structure of "Kurmangazy".
After analyzing all the received geological and geophysical data the exploration works pursuant to a mandatory program of work under the contract for subsoil use, including drilling a second exploration well will be continued.
Drilling of 2 wells was unsuccessful. According to the unofficial data, the survey showed the absence of even traces of samples of residual oil.

Execution of oil operations on the project was assigned to the LLC "Kurmangazy Petroleum" registered in Aktau (Mangistau region). Shares of participants in the project:
Rosneft represented by "RN-Kazakhstan» - 50%;

KazMunayGas represented by JSC OOC represented by "KazMunayTeniz" - 50%.
The development of this structure will be carried out on parity by the Russian and the Kazakh state oil and gas companies "Rosneft" and "KazMunayGas". The parties plan to invest in the project total $ 23 billion. The profit on its implementation is expected to reach $ 50 billion.
PSA project has three choices of maximum production level. The most optimistic version of the oil production in the Kurmangazy can reach 64.5 million tons a year. At this level the oil production can last up to seven years. The medium variant provides extraction from the field from 31.6 million tons per year for ten years. A third variant provides the annual production of 18.6 million tons with the duration of the plateau to twelve years.

The prospective geological resources of the structure are estimated by experts of 6.2 billion tons. According to preliminary calculations 3.9 billion tons occur in the Jurassic period sediments, 2.3 billion of tons occur in the Cretaceous period sediments. The recoverable oil resources in Kurmangazy structure were estimated by the Russian experts at thevolume of 550 million to 1800 million tons. If the upcoming exploration work will confirm the predictions of geologists, the Kazakhstan offshore will have the second largest field after the Kashagan with recoverable reserves of 1 billion tons of oil.