Oil Production

Kazuz Oil’s core producing assets are divided into two categories: Kazuz Oil accounted for 70.6 percent of Kazuz Oil’s oil reserves (as of December 31, 2019) and 66.2 percent of the company’s total crude oil output in 2020. The existing fields’ oil production levels have now stabilized. Technology is being used to improve production. Kazuz Oil’s core production operations are spread among 41 fields in Western Kazakhstan’s Ozen and Emba, excluding additions made between 2020 and 2021. One of the primary responsibilities of the core assets is to sustain production levels by optimizing oil production and utilizing new technology.

Between 2020 and 2021, production increased by an incredible 80%. Production levels have been recovered because to increased investment in new drilling and improved recovery from older fields. Well workovers and the employment of new technologies such as hydro-fracturing played a significant part in the recovery process. For the next few years, the Company’s aim is to sustain optimal production from existing assets.