01.08.2018
KPO reports performance results for first half-year period of 2018

AKSAI, West Kazakhstan Oblast, 01 August 2018 – Karachaganak Petroleum Operating B.V. (KPO) has announced the operational performance results for first half-year period of 2018.

KPO General Director Edwin Blom said: “Over the past six months KPO has achieved a strong production performance and produced over 77 million barrels of oil equivalent in the form of stable and unstable liquids, sour gas and fuel gas. Moreover, 4.3 billion cubic metres of gas were re-injected to maintain the reservoir pressure that approximates the volume equivalent to 44 per cent of the total gas produced”.

“KPO contributes significantly to the development of the West Kazakhstan Oblast’s economy. To date, KPO Partners have invested more than $23.7 billion into the development of the field”, added Edwin Blom.

“Long-term sustainable development, reduction of emissions, management and utilization of wastes and the deployment of new environmental protection and energy saving technologies are key priorities for KPO. During the first half of 2018, KPO has achieved a world-class gas utilization rate of 99.95 per cent. Since 1998, KPO has invested a total of $368 million into environmental protection activities.

“Supporting of local suppliers is another focus area for KPO. According to the half-year results, the share of local content in procurement of goods, works and services in Karachaganak exceeded 56 per cent, which corresponded to nearly $209 million in monetary terms.

“Since signing the Final Product Sharing Agreement (FPSA) in 1997, the value of goods, works and services supplied to KPO by local companies has reached $6.7 billion.  This year KPO expects to further progress a number of projects aimed at extending the current production levels with extensive use of local goods and services”, noted Edwin Blom.

“KPO has currently scoped a number of digitalization initiatives that will allow further improvement of operational performance in HSE, operations, local content in manpower and finance”, added Edwin Blom.

Over the past two decades KPO has been increasing the role of Kazakhstani employees in the Karachaganak project. According to 2018’s half-year results, the local content in KPO manpower reached 95 per cent in the “qualified staff” category and 77 per cent in the “management” category.

Social corporate responsibility is another key priority for KPO. The company annually allocates $20 million a year to implement social projects in the region.

For the period of 2018 – 2022 this amount was increased to $30 million. KPO has invested a total of $353 million to date into development of social infrastructure in the West Kazakhstan Oblast.

 

For more information please contact:

Sergei Pushkarev: PushkS@kpo.kz 

Gulnara Sharibayeva: ShariG@kpo.kz 

KPO Corporate Affairs Department