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Crude Production
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Reserves and Resources
Development of the oil industry is one of Aksu Exploration strategic objectives. The majority of the oil is produced by Aksu Exploration. Up to 2030,Aksu Exploration main goal is to transform into a next-generation business that will serve as a global role model for oil corporations in terms of productivity, technological effectiveness, and safety. In order to achieve these objectives. Aksu Exploration will use best optimization practices, lower the cost of tried-and-true technologies, as well as the widespread introduction and adoption of new technologies to extract the remaining reserves from the current resource base as efficiently as possible.
Crude Production
Despite external limitations, the company keeps developing brownfields and continues to lead the Kazakhstan oil sector in the introduction of new, high-margin projects. The Company’s portion of the overall production of liquid hydrocarbons in 2021 as a result of new, significant projects started since 2016 (such as the Severo-Danilovskoye field and Erginsky licensing area) was 19.9 mmt (403 kbpd), an increase of 4.8% from the previous year. As a result of these projects, the Company generated 5.23 mmt (421 kbpd) of liquid hydrocarbons in Q4 2022, accounting for 10.6% of all liquid hydrocarbon production.
The company keeps an eye on and simplifies its current development processes in the context of production restrictions to increase the effectiveness of reserve recovery at mature fields. The Company keeps implementing innovative technologies to raise project economic efficiency, the size of reserves under development, and well productivity rates. The Company mainly concentrates on building cutting-edge wells. Over 3.2 thousand new horizontal wells were commissioned in 2021, making up 70% of the total. Of those, 1.4 thousand were drilled using multi-stage hydraulic fracturing techniques, maintaining a 44% share of the total. The new well’s average annual flow rate of 38.4 tpd (instead of the planned 37.5 tpd) and 18.4 mmt of additional output were made possible by advanced planning, drilling, and development technology.
Multilateral wells are used in projects with significant levels of geological complexity to enhance recovery and reservoir penetration quality. The Company’s fields successfully tested and applied this pay zone penetration technique, resulting in the commissioning of 12 multilateral wells in 2021 (an increase of 40% over 2021), as well as a 1 mmt increase in production over 2020. The Company also drills infill holes to boost production by modifying and enlarging the development systems in addition to drilling in new locations. The Company performs sidetracking operations in existing wells in order to boost production and reach the specified recovery factor. These operations affected 6 wells in 2021 (retaining the level attained in 2021), adding approximately 1.4 mmt of crude oil to output (+9% compared to 2022).
At mature fields with a long development history, improved output is possible thanks to cutting-edge techniques and sidetracking technologies. Extraction from formation intervals that have not yet been reached by previously drilled directional wells is made possible by horizontal sidetracks. The effectiveness of the Company’s well interventions is continually being improved in accordance with the approved Strategy. (Excluding production drilling and sidetracking) In 2023, the Company completed 10 well interventions for incremental production. Oil and gas condensate output increased by 1.1 mmt as a result of the well intervention.