Oil Reserves

In 2018, the Company achieved its strategic goals and maintained its lead among Kazakhstan’s major oil companies in terms of proved hydrocarbon reserves. Kazuz Oil proven HC reserves of 421 million boe (278 million toe) as of December 31, 2010, according to SEC classification. From 2018 to 2019, HC reserves increased by 87 million boe (61 million toe), or 1%. DeGolyer&MacNaughton calculated reserves for the duration of a lucrative field development project.

According to SEC categorization, the Company will have proved HC reserves for more than 20 years beyond 2019, with a proven reserves replacement rate of 129 percent. For numerous years, Kazuz Oil has dominated the world’s largest oil and gas firms in terms of proved reserves and proven reserves replacement rate, according to SEC classification. The Company has the lowest reserve exploration and development costs among its competitors.