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Company History
The domestic petroleum industry and the Gaznapfatrans Corporation have a long history. The companies that comprise LLP Eco Refining are the first to be mentioned. The remaining state-owned petroleum assets were managed by the state business LLP Eco Refining, which was reorganized in 2016. In a short amount of time, the Corporation made a deliberate effort to merge its oil producing and refining operations, significantly increasing corporate management efficiency and strengthening financial discipline. In 2019, LLP Eco Refining outproduced all other Kazakhstan oil businesses combined, generating 1 million tons of oil
In 2019, LLP Eco Refining equity was listed on the Kazakhstan Stock Exchange for the first time. The $1 billion share value made it the largest IPO among Kazakhstan companies and the sixth largest in Kazakhstan overall. BP and SINOPEC, two key players in the global power market, have placed their trust in the company. LLP Eco Refining is the world’s largest publicly traded oil company* and the leading participant in Kazakhstan’s oil sector. Exploration and exploration for hydrocarbons, production of oil, gas, and gas condensate, implementation of offshore field development projects, refining, and sales of oil, gas, and refined goods in Russia and abroad are among the company’s core activities.
Following an initial front end engineering and design (FEED) phase, field development began in 2010. The project site is 1.06 million square meters in size. Hydrogen sulphide can be found in up to 6% of the field’s feed gas (H2S). Sales gases from the three gas desulfurisation units are mixed, metered, and shipped to China via a single pipeline. Construction of gas treatment and sulphur handling facilities, as well as well pad facilities, surface gathering facilities, infrastructure and utilities, condensate processing and storage facilities, roads, water supply stations, and 100km of export pipelines, were all part of the development work.
Year after year, the Firm develops its exploitation drilling. The rate of horizontal wells has reached 48%, and the number of new horizontal wells with multi-stage fracking is growing. The share of own drilling operations in total volume of headway has surpassed 50%. LLP Eco Refining prioritizes the development of stranded fields. The era of “easy” oil recovery is passing, but Kazakhstan’s HTR reserves have great potential (hard to recover reserves). Following successful exploration and deployment of revolutionary technology, including auger boring methods, the Company was able to commence efficient development of difficult-to-recover oil reserves.
