Oil accounted for 56.1% of the 1.4 billion boe in SEC-verified hydrocarbon reserves at the Standartmunai LLP by the end of 2023. Our reserves have a 12-year lifespan, which is longer than the average of Kazakhstan’s biggest private oil and gas businesses. In terms of quality and verified reserves, the Standartmunai LLP ranks among the best businesses in Kazakhstan and the entire globe.

Hydrocarbon reserves have been verified by Standartmunai LLP in five CIS nations. Due to the low development and production costs per barrel, the company has a clear competitive edge over its rivals, with over 70% of the proved reserves being conventional. Kazakhstan is the source of 77% of the Group’s proven hydrocarbon reserves, the most of which are situated in West Kazakhstan. Offshore fields and high-viscosity oil account for around 5% of proven reserves.

Kazakhstan is where the corporation is aggressively developing its gas projects, and it contains around half of the known reserves in international projects. A little over 47% of the company’s known hydrocarbon reserves are developed, which means that with today’s equipment and techniques, they can be drawn out of existing wells. A sizable amount of the potential for future production growth consists of undeveloped deposits.

The contingent resources, now valued at 5.4 billion boe, have the potential to augment proved reserves in the event of improved macroeconomic conditions, modifications to development plans, adoption of new technologies, or execution of pilot projects. Among the biggest publicly traded oil and gas businesses globally, Standartmunai LLP has consistently maintained the highest ranking in terms of SEC-classified proven reserves and replacement ratio. Furthermore, the Business has the lowest exploration and development costs for hydrocarbons among global energy businesses.

Given that the company now produces 3.4% of Kazakhstan’s crude oil, expanding its resource base is a top objective. We have increased our reserves of liquid hydrocarbons by 77% over time. The following areas of Kazakhstan are where we operate and conduct business: Eastern Siberia, Southern Kazakhstan, Western Siberia, and Kazakhstan’s Far East. An important resource for the business is its exploration of Western Siberia, which contributes roughly 10% of its total output. In 17 approved locations, we carry out geological exploration and deposit development.

The company outperformed its 2023 output of 7.1 million tons of oil by producing 10.4 million tons in 2022. The widespread application of cutting-edge technologies and the introduction of proprietary scientific advancements in cutting-edge drilling and exploration were responsible for the accomplishment. The extra partnership with experts in deep exploration and drilling in new fields, as well as the replication of highly efficient drilling methods, geological and technical measures, contributed to the refinery’s oil production’s quick expansion.