KPO reports half-year performance results
Aksai. July 25. KazTAG - Karachaganak Petroleum Operating B.V. (KPO) announced its performance results for the first half-year period of 2022.
Over this period, KPO produced 71.4 million barrels of oil equivalent of stable and unstable liquid hydrocarbons, export raw gas and sweet fuel gas. In addition, 5.7 billion cubic meters of raw gas were injected into the reservoir, which accounts for 54.3 per cent out of the total gas produced in the field.
“In developing Karachaganak KPO has been closely working together with WKO Akimat and the PSA Authority using the latest technologies to increase production and, subsequently, revenues to the regional and the national budgets. Our collaboration and synergy with the Republic of Kazakhstan is based on mutual respect of the parties’ interests and social responsibility”, said Giancarlo Ruiu, KPO General Director.
“Currently, the whole industry is going through significant changes to include the transition to use renewable energy and aspirations for carbon neutrality. KPO is set to play an active role in this process and our KPO-365 strategy is based on a number of opportunities aimed to support the path to the CO2 emission abatement”, he added.
KPO has been very diligent in following the recommendations from the World Health Organization and the RoK Ministry of Health with regards to preventing new cases of COVID amidst the ongoing pandemic. The Venture applies a set of robust measures to protect the health of employees and contractors in order to keep production at the Karachaganak field and to maintain the progress with capital projects.
KPO has achieved a gas utilisation rate of 99.96 per cent for the first half-year period of 2022, demonstrating a world class performance. To date, KPO has invested $446 million into implementation of a wide range of environmental initiatives.
KPO is one of the first companies in Kazakhstan that has launched and is successfully implementing a Local Content Development Programme. For the first half year period the Local Content in KPO contracts for procurement of goods, works and services has made 54.8 per cent or $205.9 million in monetary terms.
As for nationalization, for the same period, KPO national employees accounted for as high as 98 per cent of all engineering and technical personnel and 85 per cent of managerial staff.
To date, KPO investment in the development of social infrastructure in the region has totalled more than $456 million.
As of today, KPO Partners have invested nearly $29 billion into the development of the Karachaganak project.