In 1998, ConocoPhillips acquired an interest in 10.5 blocks off the coast of Kazakhstan through the Republic of Kazakhstan’s NCSPSA. The first exploration well, Kashagan E-1, was completed as a discovery in 2000. In 2002, the well was declared commercially viable, and in 2004, the Republic of Kazakhstan approved the Kashagan development plan and budget. - Read more

"JSC KazMunaiGas Exploration Production (KMG EP or the Company) produces crude oil, natural and associated gas from its hydrocarbon reserves on-shore in Kazakhstan. The Company also has an active exploration programme to maintain and grow its reserve base. JSC KazMunaiGas Exploration Production is a subsidiary of the national company for oil and gas operations in the Republic of Kazakhstan, JSC National Company KazMunaiGas (NC KMG). It was formed in March 2004 through the merger of JSC UzenMunaiGas (UMG) and JSC EmbaMunaiGas (EMG). Independent experts believe that the company’s assets contain proved plus probable oil reserves of approximately 240 million tonnes (1 767 million barrels) as at December 31, 2007. KMG EP has a portfolio of 46 oil and gas fields located onshore in western Kazakhstan. The core production assets of the Company are its two production divisions: Uzenmunaigas (UMG) and Embamunaigas (EMG), with combined production of 192 kbopd in 2007.Uzen fileld is the biggest in the existing portfolio. Of the two divisions UMG accounted for more than 75% of reserves and 71% of 2007 production. One of the main objectives for KMG EP is to ensure the growth of oil reserves. This growth is achievable through the acquisition of assets, exploration activity and the optimization of core fields. With regard to UMG and EMG, the Company’s strategy is to maintain existing production levels in the forthcoming years by drilling and completing new wells, performing well work-overs and enhancing oil recovery by implementing new technologies. The Company also intends to focus on improving its efficiency by continuing to optimize operating costs and rationalizing its operations across the board. This will be achieved through divesting non-core and ancillary businesses and by bringing the Company’s operations in line with international standards. In order to continue to build on the significant successes of previous years, it is important to maintain progress on the programme for the sustained development of the Company’s core assets. This programme has been successfully reviewed and progressed at the Uzen field." - Read more

"Maersk Oil is operating two oil fields onshore Kazakhstan.In 2000, Maersk Oil acquired a 60% interest in the onshore Temir Block situated approximately 100 km south of Aktobe in the western part of Kazakhstan. Following completion of exploration activities the majority of the acreage was relinquished in 2004. The Saigak Field covering an area of 10.9 sq. kms was retained. Maersk Oil is the operator of the field and Arawak is partner with 40% interest. The acreage is operated under a Production Sharing Contract signed in 1992. The Saigak field was developed and brought on stream in 2002. The development includes five wells, production facilities with a design capacity of 30,000 barrels of oil per day and an oil pipeline to the terminal located in the nearby town of Shubarkuduk. The oil is transported from Shubarkuduk by railroad. In 2002, Maersk Oil acquired a 60% interest and operatorship of the Dunga Block. Partex and Oman Oil hold a 20% interest each. The 281 sq. kms onshore block is situated approximately 50 km north of Aktau in the Mangystau Oblast in western Kazakhstan. Several hydrocarbon accumulations are found within the block where further development is currently in progress for the Dunga Field. The acreage is operated under a Production Sharing Contract signed in 1994." - Read more

"The contract for the Zhambay offshore exploration block in the Kazakhstan Caspian Sea was signed in fourth quarter 2006. It was approved by the country's Ministry of Energy and, since the contract is pending ratification by the Kazakhstan Anti-Trust Committee, the block was not included in the company's official mining acreage at 31 December 2006. The operation will be a KazMunayGas, Repsol YPF, and Lukoil joint venture. The agreement with KazMunayGaz whereby Repsol YPF enters the Zhambay exploration block with a 25% stake was signed in 2005. " - Read more