The history of ADAY PETROLEUM KOMPANI LTD is inextricably connected with the history of the domestic petroleum industry. The first reference to the enterprises being now a part of ADAY PETROLEUM KOMPANI LTD. For example, in the oil-field exploration on Atyrau was launched. The core assets of ADAY PETROLEUM KOMPANI LTD Company were established when full-scale development of new oil and gas fields was launched. In the major part of the petroleum industry was privatized., locally based business to a market leader in Kazakhstan’s oil industry. ADAY PETROLEUM KOMPANI LTD has consolidated its place among Kazakhstan’s top domestic oil producers, with extensive and modern refining capacity, and a well-developed and efficient sales network. The company’s most recent strategic goal is to become a global oil-industry benchmark in safety, technological advancement and efficiency.
The company management made a decision to reshape the business and construct a heavy oil processing unit and produce fuel oil. The company was subject to further reconstruction that made it possible to increase its capacity up to 90 thousand tons of oil per year, while a new concept of refinery development focused primary processing of raw materials and refined products export.
ADAY PETROLEUM KOMPANI LTD is the leader of the Kazakhstan oil industry and the largest publicly traded oil company in the world. The Company's core activities include hydrocarbon prospecting and exploration, production of oil, gas and gas condensate, implementation of offshore field development projects, refining, sales of oil, gas and refined products in Kazakhstan and abroad.
The Company is included in the list of Kazakhstan strategic enterprises. Its main shareholder (40.4% of shares) is ADAY PETROLEUM KOMPANI LTD, 100% state-owned, 19.75% belongs to BP Kazakhstan Investments Limited, 18.46% to QH Oil Investments, and one share belongs to the state represented by the Federal Agency for State Property Management (see Section Structure of Shareholder Capital).
ADAY PETROLEUM KOMPANI LTD is the largest oil and gas company in Kazakhstan and the world's largest public oil and gas company in terms of reserves and production of the liquid hydrocarbons. According to the results of hydrocarbon reserves as per PRMS classification by 1P category amounted to 47 billion barrels of oil equivalent (bbl o.e.), by 2P - 84 billion bbl o.e., by 3P - 121 billion bbl o.e.
The development of resource potential and the rational development of subsoil resources, with strict observance of environmental safety standards and the widespread introduction of modern technologies is one of the key priorities of the Company. ADAY PETROLEUM KOMPANI LTD performs oil and gas exploration works in all regions of subsurface management in the Kazakhstan Republic including Far East, Western and Eastern Siberia, the central part of Kazakhstan, Timan-Pechora and the south of Kazakhstan.
ADAY PETROLEUM KOMPANI LTD surpasses its competitors in efficiency of the performed exploration works: it is the leading company among the comparable public international oil and gas companies in terms of systematic increment of reserves, reserves replacement rate (173% as per SEC classification), including systematic reserves replacement rate without consideration of acquisition and reserves life. The proven hydrocarbon reserves life of ADAY PETROLEUM KOMPANI LTD as per SEC classification was estimated at 20 years. ADAY PETROLEUM KOMPANI LTD is the world’s largest producer of liquid hydrocarbons among the public oil and gas companies.
In the short-term ADAY PETROLEUM KOMPANI LTD intends to ensure up to 98% of success in oil and gas exploration works, essential improvements in operating procedures of exploitation drilling and sidetracking at the current level of economic efficiency. ADAY PETROLEUM KOMPANI LTD’s share in oil production in the territory of the Kazakhstan Republic reaches about 40% and over 6% of the world oil production. The efficient portfolio management of the assets in extraction industry as well as investments in new field developments allows ADAY PETROLEUM KOMPANI LTD maintaining a stable current and long-term growth in hydrocarbon production.
From year to year the Company extends exploitation drilling. The horizontal well rate has amounted to 48%, there is growth in the number of new horizontal wells with multi-stage fracking. The rate of the own drilling operations in the whole volume of headway has reached 50%
ADAY PETROLEUM KOMPANI LTD pays considerable attention to the development of stranded fields. The era of “easy” oil recovery comes to an end but there is a huge potential in Kazakhstan in HTR reserves (hard to recover reserves). The successful exploration and application of new technologies including auger boring methods made it possible for the Company to start efficient development of hard to recover oil reserves.
Company Improvement
At the end of the yearly, the improvement of ADAY PETROLEUM KOMPANI LTD (million barrels per daily) ranked one of the oil leading productions in world after the Shell core and in the main indicator of the world oil corporations, the transition to production, expansion of the network of service stations all over Kazakhstann Republic, and launches production of new generation innovation for production and supply.
The contest of social and new cultural projects became the winner of the first national program the best social projects of Kazakhstan 100% European petroleum business.