COMPANY HISTORY

Company History

The domestic petroleum industry and Priority Oil & Gas share a rich history. Reorganized in 2023, the company streamlined state-owned petroleum assets, merging oil production and refining operations to enhance efficiency and financial discipline.

By 2024, Priority Oil & Gas had become Kazakhstan’s top oil producer, generating 1 million tons of oil and completing the country’s largest IPO, raising $1 billion. Trusted by global energy leaders, the company remains a leader in the exploration, production, refining, and international sales of oil and gas products.

Following the initial front-end engineering and design (FEED) phase, field development began in 2010 on a 1.06 million square meter site. The project handles feed gas containing up to 6% hydrogen sulfide (H₂S), with sales gas transported to China via a single pipeline. Development included gas treatment and sulfur handling facilities, well pads, surface gathering systems, condensate processing, storage, infrastructure, and 100km of export pipelines.

Priority Oil & Gas continues advancing exploitation drilling, with horizontal wells now at 48% and multi-stage fracking steadily increasing. Over 50% of drilling operations are conducted in-house, with a focus on developing stranded fields and hard-to-recover (HTR) reserves. By deploying innovative technologies like auger boring, the company has achieved efficient development of challenging oil reserves, unlocking Kazakhstan's vast HTR potential.