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The first episode of the new ON THE SHIFT project of PetroMining Association is dedicated to KAZPETROL GROUP

In the first episode of the ON THE SHIFT project, the head of the PetroMining Association, Sayat Boranbekov came to KAZPETROL GROUP at the Khairkeldy field.
KAZPETROL GROUP is engaged in the search, exploration, and development of oil and gas fields and oil production with the subsequent sale of commercial oil on the domestic and foreign raw materials markets, and is also part of the international group of companies Kusto Group.

The hero of our project is a company on the border of Kyzylorda and Ulytau regions, which has invested about $400 million in projects, produces oil from a depth of 2,000 meters, employs hundreds of people, and has invested about $8 million in the development of social projects in the country and the region.

A company that has found a way to save up to 15% of operating costs through digitalization, while exporting no more than a quarter of the oil produced. A company with a dream shift-camp in the heart of the desert.

It is important to note that throughout the existence of KAZPETROL GROUP, investments in the company's projects amounted to about $400 million, and in 2018 KAZPETROL GROUP became a winner of the Finance Awards (EBRD) in the "Best Oil and Gas Deal" nomination.

And according to Forbes magazine, KAZPETROL GROUP is one of the Top 50 largest private companies in Kazakhstan in 2022 and comes 35th due to revenue growth rates that reached 60%.
“We are happy that during the pandemic we managed to save jobs and avoid interrupting oil production processes. Of course, we face a number of problems, just as any other industry. For example, according to the contract with the Ministry of Energy of the Republic of Kazakhstan, 80% of the produced oil is allowed to be shipped for export, while in fact only 25% is exported. Everyone realizes that the price in the export market is 2.5 times higher than that in the domestic market. Moreover, currently, there is a record drop in oil production in the Kyzylorda region: minus 32% over the past 5 years. Certainly, we would like to increase the share of exports, having a direct “pipe” to China. “The increase in export will also have a positive impact on budget revenues, thereby developing the economy of our country,” says Yerzhan Tazabekov, General Director of KAZPETROL GROUP, on the new episode.
The General Director of KAZPETROL GROUP Yerzhan Kakimovich Tazabekov, Chief Technology Officer, Talgat Abibullayev, the Head of the KAZPETROL GROUP field, Dastan Zalikhov, the Geological Engineer of KAZPETROL GROUP, Askar Mazhitov, and the Oil and Gas Production Foreman, Daniyar Zhubadayev, shared with us about the petroleum business and everyday life.

In the debut episode of ON THE SHIFT project you have the opportunity to find out how many fields the company is developing and what their geological reserves are, what is the annual production of KAZPETROL GROUP and what volume of investments has already been implemented by the company's management.
2023-11-03 10:13