KARACHAGANAK PETROLEUM OPERATING B.V.

Karachaganak Petroleum Operating B.V. (KPO) is a joint venture between Eni SpA (29.25%), Shell plc (29.25%), Chevron (18%), LUKOIL (13.5%) and KazMunaiGas (10%).  

KPO oversees the expansion and development of the Karachaganak field – one of the world’s largest oil and gas condensate fields. Located in northwest Kazakhstan it covers an area of over 280 square kilometers and holds estimated hydrocarbons initially in place (HIIP) of 13.6 billion barrels of liquids and 59.4 trillion cubic feet (tcf) of gas, of which approximately 16.9% of liquid (condensate and oil) and 15.7% of gas has been recovered to date. 

Since signing the Final Production Sharing Agreement in 1997, KPO’s Partners have invested around $34.435 billioninto developing of the field and applying industry leading technology aimed at maximizing sustainable economic value. This is being implemented in accordance with the highest RoK and international safety and environmental protection standards.

In 2025, hydrocarbon production in Karachaganak reached 136.453 mln. barrels of oil equivalent. 16,625 billion cubic metres of gas, which is approximately 65.8% of the total gas produced, were re-injected to maintain reservoir pressure.

KPO fully supports initiative of the Republic of Kazakhstan regarding transition to “a green economy”. In 2025, the gas utilisation rate at Karachaganak reached 99.95%, which is a world-class achievement. Overall, KPO’s investments into environmental activities have exceeded $466.97million.

KPO is one of the first companies in Kazakhstan to successfully introduce a Local Content Development Programme. More than 7,139 Kazakhstani vendors are currently registered in KPO vendor database. 

As the largest employer in the WKO, KPO is fulfilling its obligations towards provision of long-term local jobs with competitive salaries. Around 4,000 people work in KPO today.

KPO implements a wide range of social and infrastructure projects in the West Kazakhstan Oblast. From 1998 to the end of 2025, 268 social and infrastructure facilities have been built at a total cost of $901.98 million US dollars.

While delivering on its operation commitments, KPO as a responsible corporate citizen works towards ensuring sustainable development whilst generating maximum social and economic benefits from the Karachaganak field for the Republic of Kazakhstan and local communities.