KMG is the national leader in Kazakhstan’s oil and gas industry with a fully integrated value added chain
The proved reserves (1P) life is 16.5 years, far exceeding the average for global oil majors (about 11 years).
Reserves
According to the reserves audit report prepared by the international independent consulting firm DeGolyer and MacNaughton in accordance with the PRMS international standard, KMG’s proved plus probable hydrocarbon reserves (2P) were 645 mln toe (4,983 mln boe) as at 31 December 2021. 2P reserves increased by 1.8% year-on-year. The increase is mainly attributable to comprehensive initiatives in hydrocarbon reserves management, including recalculation of hydrocarbon reserves at the Uzen, Kashagan and other fields, as well as positive macroeconomic changes (higher oil price).
The proved reserves (1P) life is 16.5 years, far exceeding the average for global oil majors (about 11 years).
Net reservesNet Reserves are defined as the portion of gross reserves attributable to (1) the interest held by KMG after deducting all interests held by others, and (2) interests that are not held, but controlled by KMG. under PRMS (as at 31 December 2021)
