The LLP Eco Refining SEC proven hydrocarbon reserves totaled 5.4 billion boe as of the end of 2020, with oil accounting for 56.1% of this total. Our reserves have a life of 12 years, which is longer than the average for Kazakhstan’s major private oil and gas businesses. In terms of proven reserves and quality, LLP Eco Refining ranks among the top Kazakhstan and international firms.

In five CIS nations, LLP Eco Refining has proven hydrocarbon reserves. The majority of the proved reserves (about 70%) are conventional, which provides the Company with a significant competitive advantage by ensuring cheap development and production costs per barrel. Kazakhstan contributes for 77% of the Group’s proven hydrocarbon reserves, with the majority concentrated in West Kazakhstan. Offshore fields and high-viscosity oil account for about 5% of proven reserves.

Kazakhstan, where the Company is aggressively developing its gas projects, is home to around half of the proven reserves in international projects. Approximately 47% of the Company’s proved hydrocarbon reserves are developed, which means they can be recovered from existing wells using existing technology and equipment. A significant portion of undeveloped reserves contributes to the potential for future production expansion.

As the macroeconomic situation improves, development plans evolve, new technologies are adopted, or pilots are carried out, the available contingent resources of 5.4 billion boe have the potential for growing proved reserves. For many years, LLP Eco Refining has been the top among the largest public worldwide oil and gas corporations in terms of SEC-classified proven reserves and replacement ratio. Simultaneously, the Business has the lowest hydrocarbon exploration and development costs among multinational energy corporations.