AKSAI, West Kazakhstan Oblast, 1 August 2024 — Karachaganak Petroleum Operating B.V. (KPO) announced its performance results for the first half-year period of 2024.

During the first six months of 2024, KPO produced 71.4 million barrels of oil equivalent of stable and unstable liquid hydrocarbons, raw and sweet gas. In addition, 6.9 billion cubic meters of raw gas were injected into the reservoir, which accounts for 58.9% out of the total gas produced in the field.

«Our mission is to responsibly develop the Karachaganak field on the principles of sustainable development, i.e. economic efficiency, environmental care, as well as the health and safety of personnel and the local community. As a world-class venture, the company continuously improves its technologies and business processes. At the same time, KPO strives to make the maximum contribution to the socio-economic development of local communities, the region and the Republic as a whole», — said Marco Marsili, KPO General Director.

For the first half of 2024, KPO has achieved a gas utilisation rate of 99.96%, demonstrating a world class performance. To date, KPO has invested around $455.4 million into implementation of a wide range of environmental initiatives.

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 65.52% or $339.5 million in monetary terms.

KPO remains committed to the nationalization of personnel. For the first half of the year, KPO national employees account for as high as 98% of engineering and technical personnel and 86% of managerial staff.

Since the beginning of the development of Karachaganak, KPO investment in the development of social infrastructure in the West Kazakhstan Oblast has exceeded $800 million.

In total, to date, the international consortium has invested more than 31.9 billion US dollars into the development of Karachaganak.

Notes to editors:

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 KazMunayGas (10%).

KPO oversees the expansion and development of the Karachaganak field — one of the world’s largest oil and gas condensate fields.

KPO Public and Media Relations Department