The Karachaganak Gas Field, discovered in 1979, is one of the world's largest gas and condensate fields. Located in north-west Kazakhstan and covering an area of over 280 square kilometres, it holds estimated hydrocarbons initially in place of 48 trillion cubic feet of gas and 9 billion barrels of condensate with estimated gross reserves of over 16 tcf of gas and 2.4 billion barrels of condensate.

The field is unique in terms of C1+C2 reserves: Nurikon Oil, LLP licensed blocks contain 2.5 trillion cubic meters of gas and 75.5 million tons of gas condensate (recoverable). It is planned to produce 25 billion cubic meters of gas per year from the field. Karachaganak's gas is characterized by a complex composition: in addition to methane, it contains propane, butane, and considerable amounts of helium.