AKSAI, West Kazakhstan Oblast, 8 February 2024 — Karachaganak Petroleum Operating B.V. (KPO) has released its performance results for 2023.
During this period, KPO produced nearly 143 million barrels of oil equivalent of stable and unstable liquid hydrocarbons, export raw gas and sweet fuel gas for internal use.
As of today, Karachaganak Partners have invested US $31.3 billion into the development of the Karachaganak field.
KPO General Director Giancarlo Ruiu stated: «In 2023, despite all the known global challenges, we achieved good results in our production and the progress we’ve made with the Karachaganak Expansion Project Phase 1 (KEP-1) project is certainly remarkable. Successful achievement of multiple key milestones in the construction of KEP-1A (5th Compressor) and associated facilities, showcases the mature project delivery capability of KPO and business partners, which is also reinforced by the positive HSE performance indicators. The substantial progress made sets the stage for completion of all the facilities as scheduled by the end of 2024».
In the area of environmental protection, it is worth noting that in 2023 KPO achieved a world-class gas utilisation rate of 99.95 percent. To date, KPO has invested nearly US $453 million into various environmental activities. Currently, the company is pursuing a broad set of initiatives in decarbonisation, focusing on efficiency gains, methane emissions reduction, as well as a shift towards lower and zero carbon energy sources.
Significant progress is also achieved on the definition of the new water strategy, aimed to reduce the technical water and seek opportunities for synergies with available civil water streams.
Throughout last year Company’s personnel training and development programmes were successfully implemented. In 2023, local content in staff reached 98% in professional and technical positions, and 86% in managerial positions. At the same time, KPO local content in procurement of goods, works and services is 63.24% (US $756.1 million).
In addition, KPO keeps actively investing into social infrastructure development projects, such as the construction of schools in West Kazakhstan Oblast. Since 1998 the company has funded the construction of over 250 social and infrastructure facilities for the total amount of US $797 million. For these purposes, KPO annually allocates US $20 million. On top of that, KPO allocates additional funding under special Decrees by the Government of the Republic of Kazakhstan intended for the implementation of specific social and infrastructure projects in WKO.
«The KPO Mission is to conduct the Karachaganak field development on the principles of care and respect for nature and economic profitability while creating conditions for the social and economic growth and prosperity of the local community,» said KPO General Director Giancarlo Ruiu.
KPO Public and Media Relations Department
