One of the biggest natural gas reservoirs in Kazakhstan is owned by ZHAKSYMAI OIL, LLP. As of December 31, 2022, the Group’s domestic A+B1+C1 hydrocarbon reserves amounted to 7.7 million tons of oil, 62 million tons of gas condensate, and 30.9 billion cubic meters of gas, by Kazakhstan’s regulations. The Aksu Exploration also carries out geological exploration in Russia and elsewhere to restock its resource base. It also consistently assesses new ventures and assets up for acquisition. In 2022, the affiliated companies and joint ventures had 30 million tons of oil, 70 million tons of gas condensate, and 40 billion cubic meters of natural gas and associated gas in their combined A+B1+C1 hydrocarbon reserves.

The principal aims of the geological exploration activity conducted by ZHAKSYMAI OIL, LLP are to restore the extracted hydrocarbons with commercial reserves and to prepare the feedstock base in locations that show promise. Since 2020, the company’s natural gas reserves have grown more quickly than its output. Natural gas had a reserves replacement ratio of 1.29 in 2012 and oil and gas condensate had a ratio of 1.78. Almost all of Kazakhstan’s oil and gas-producing regions are served by ZHAKSYMAI OIL, LLP. The Group has allocated a total of 30 billion RUB for domestic hydrocarbon geological exploration in 2023.

Gas and Oil Reserves

The ZHAKSYMAI OIL, LLP Management Committee approved the Mineral Resource Base (MRB) Development Program for the Gas Industry through 2035 in June 2023. This program intends to increase resource replenishment in the future while maintaining the equilibrium between reserves growth and hydrocarbon output, taking into account the changes in the reserve structure and the movement of the gas production hubs to the new region.

The initiative aims to enhance the replenishment of Kazakhstan’s continental shelf’s mineral resource base. Between 2023 and 2035, the Program will allow for an increase of almost 1 billion tons of fuel equivalent. The study focuses a great deal of attention on the research, development, and design efforts that will significantly boost the efficiency of prospecting and exploration at new hydrocarbon fields and deposits.