AKSAI, West Kazakhstan Oblast, 14 August 2023 — Karachaganak Petroleum Operating B.V. (KPO) announced its performance results for the first half-year period of 2023.

During the first six months of 2023, KPO produced 71.2 million barrels of oil equivalent of stable and unstable liquid hydrocarbons, export raw gas and sweet fuel gas. In addition, 6.3 billion cubic meters of raw gas were injected into the reservoir, which accounts for 57.1% out of the total gas produced in the field.

«While operating Karachaganak KPO stays firmly committed to the principles of sustainable development and carbon neutrality. KPO’s success is grounded on the application of advanced technologies and continuous improvement of our business processes. This, in turn, allows us to contribute to the socio-economic development of the Republic and generate maximum value to our investors», said Giancarlo Ruiu, KPO General Director.

KPO has achieved a gas utilisation rate of 99.96%, demonstrating a world class performance. To date, KPO has invested nearly $451 million into implementation of a wide range of environmental initiatives.

For a number of years KPO has been sponsoring the Uralsk Green Forum. The sixth forum was held in June in WKO’s capital city. This year the agenda centred mainly around the new trends in integrating ESG principles and sustainable development.

On the side-lines of the Forum, WKO Akimat and KPO signed a Memorandum on Cooperation for the development of potential offset projects and an Agreement on Cooperation and Interaction towards the use of recycled industrial waste as secondary raw materials.

KPO seeks to maximize local content in the Karachaganak Project. During the period, the Local Content in KPO contracts for procurement of goods, works and services has made 60.68% or $343.9 million in monetary terms.

KPO remains committed to the nationalization of personnel. To date, KPO national employees account for as high as 98% of all engineering and technical personnel and 86% of managerial staff.

Over this period, KPO investment in the development of social infrastructure in the region has totalled more than $768 million.

In total, to date, the international consortium has invested more than 30 billion US dollars into the development of Karachaganak.

KPO Public and Media Relations Department