About Company <> Overview
Aktau Petrolium Limited is an oil and gas exploration and production company focused on Central Asia and the Caspian Region with projects in Kazakhstan. Aktau Petrolium has a portfolio of assets including existing oil and gas production. The company is a public company with its listing on the Stock Exchange globally for oil and gas companies.
Aktau Petrolium major oil field is derives from the Tethys Ocean, which covered Central Asia and surrounding areas some 250 million years ago. Many of the rocks, which were deposited in this ocean, now contain some of the world’s largest oil and gas fields in Central Asia – Aktau Petrolium’s focus area. Once the Tethys Ocean closed, it created the mountain chains of the Himalayas to the Alps. Today the only parts remaining of the Tethys Ocean are the Mediterranean Sea, the Black Sea and the Caspian Sea. The Tethys Ocean was named after the mythical Greek goddess Tethys, a Titaness and sea goddess who had 3,000 children, being mother of the chief rivers of the world.
- Four contracts: Kyzyloi Production Contract and Akkulka Production Contract (gas contracts), Akkulka Exploration Contract (includes Doris oil field and others) and Kul-Bas E&P Contract
- Existing gas production with plans to increase by drilling new wells and tying in existing ones
- First oil discovery in the whole area in 2010 – “Doris” produced to date in excess of 4 million barrels of oil
- Klymene prospect in the Kul-Bas area now being developed following successful 2020 testing of KBD-02 well.
- Following the completion of the annual evaluation of the Kazakhstan reserves by an independent qualified reserves evaluator, McDaniel & Associates, of Calgary, Canada, in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities of the Canadian Securities Administrators (“NI 51-101”), the Company reported Total Gross (i.e. before the application of Kazakh Mineral Extraction Tax) Oil and Gas Reserves consisting of “Proved and Probable” 2P reserves of 79.3 million BOE at December 31, 2021.
- The net present value after tax of the Company’s 2P Kazakh reserves as at December 31, 2021 was $533.4 million based on a 10% discount rate
