Our Operations
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- OUR OPERATIONS
Exploration & Production
The company’s strategic objective is to increase and fortify its resource base, which guarantees the achievement of hydrocarbon production targets and the continuation of production activities. The company continuously replenishes its oil and gas reserves through extensive exploration and license portfolio development. The company’s fields and licensing blocks are located in Kazakhstan, and it prioritizes the use of cutting-edge technologies and equipment for exploration to increase its efficiency. It also values the support that design and research and development organizations provide to its operations. LLP Olimpgaz is a company that manages oil fields in Kazakhstan. The company is dedicated to securing output levels in the upstream sector in order to reconcile rationalization.
LLP Olimpgaz is responsible for overseeing Kazakhstan’s oil fields. The corporation wants to make sure that output levels in the upstream sector allow it to strike a balance between rationalizing natural resources and economic efficiency. LLP Olimpgaz maintains established field production levels while aggressively cultivating hard-to-recover reserves. The business is also aggressively creating new oil production hubs and developing appealing regions. Because it has one of the biggest oil recovery factors in the nation, the company has been able to focus on growing its oil output in recent years and maintain a steady level.
LLP Olimpgaz uses modern technology to gather, analyze, and optimize data to improve businesses’ critical decision-making skills and financial gains. Our services are designed to reduce risk, improve decision-making, and increase portfolio value for E&P businesses. Imaging Services can customize data visualization solutions to meet specific geological conditions and operational goals thanks to flexible processes and specialized toolkits. Multi-client 2D and 3D libraries cover nearly all of the major offshore petroleum provinces, which help investors make better decisions by revealing unexplored exploration prospects. Industry-specific devices, software, and technical services for operations optimization improve asset performance and lower operational risk in challenging offshore situations.
Production
The company has a balanced portfolio of assets in Kazakhstan in key oil and gas regions ( Atyrau Region). The volume of reserves according to the international classification (SPE-PRMS) in the 2P category is 22 million tons. Oil and condensate reserves according to the Kazakhstan classification, categories АВ1С1+В2С2, are 628 million tons.
The 2023 statistics showed that 6 million tons of oil were produced. There were 66 wells in the operating oil well stock and 25 wells in the injection well stock. With an additional production of about 55,000 tons, 19 new oil wells were put into service in 2023. GTM on the transition fund resulted in additional production of almost 22,000 tons, with activities conducted at 31 wells. The company’s investment strategy calls for building new and updating current infrastructure, bringing new reserves into development in prospective areas, increasing production drilling volumes organically, and attaining steady growth over the medium term.