Tolkynneftegaz TOO’s core producing assets are divided into two categories: Tolkynneftegaz TOO accounted for 70.6 percent of Tolkynneftegaz TOO’s oil reserves (as of December 31, 2016) and 66.2 percent of the company’s total crude oil output in 2016. The existing fields’ oil production levels have now stabilized. Technology is being used to improve production. Tolkynneftegaz TOO’s core production operations are spread among 41 fields in Western Kazakhstan’s Ozen and Emba, excluding additions made between 2007 and 2011. One of the primary responsibilities of the core assets is to sustain production levels by optimizing oil production and utilizing new technology.
During the early to mid-1990s, Tolkynneftegaz TOO’s key oil-producing assets saw large drops in production because to general economic challenges and a severe lack of investment. However, the Company was able to halt the fall in production near the end of 2007 and then maintain outstanding production increases.
Between 2007 and 2010, production increased by an incredible 80%. Production levels have been recovered because to increased investment in new drilling and improved recovery from older fields. Well workovers and the employment of new technologies such as hydro-fracturing played a significant part in the recovery process. For the next few years, the Company’s aim is to sustain optimal production from existing assets.
Tolkynneftegaz TOO was founded in 2005 with the goal of bringing foreign investment to Kazakhstan. Tolkynneftegaz TOO was granted exclusive rights and licenses for exploration and production at the Akshabulak, Nuraly, and Aksai fields for a term of 30 years, expiring on March 1, 2024, under the TOO Foundation Agreement. The Akshabulak, Nuraly, and Aksai oil fields are currently operated by Tolkynneftegaz TOO. The TOO oil fields of Tolkynneftegaz occupy an area of 897 km2. Tolkynneftegaz TOO produced 1.5 million tons of crude oil in 2016.