Abstract
The Republic of Kazakhstan is a major oil exporter, ranking second in the CIS after Russia in hydrocarbon reserves and crude oil production. As the national oil and gas company, KazMunayGas is modernizing infrastructure, implementing innovations, and promoting the development of brownfields. The purpose of the article is to analyze the investment policy in the oil industry, their dynamics, investments in scientific research and innovation, as well as support for research and development (R&D) that contribute to the economic efficiency of enterprises. The objectives are to identify the main aspects of innovation activity; conduct an analysis and evaluation of innovation activity; and propose ways to improve innovation activity. The scientific novelty lies in the justification of the transition from extensive production to digitalization of the industry, the implementation of modular technologies (Industry 4.0) and a comprehensive analysis of the oil and gas sector. The article utilizes general scientific methods to reveal the main content of the work. The study highlights the need for diversification, the introduction of new technologies to enhance competitiveness, and an increase in the share of innovative products. In conclusion, it was concluded that in the foreseeable future, the oil industry of Kazakhstan will remain an important sector of the national economy.