Twenty Years Of Successful Partnership
KPO Reports 2017 Half Year Performance Results
Karachaganak Petroleum Operating B.V. (KPO) has announced 2017 half year performance results.
Over this period, KPO has produced around 74 million barrels of oil equivalent in the form of stable and unstable liquids, sour gas, and sweet gas. In addition, 4.63 billion cubic metres of gas were re-injected to maintain the reservoir pressure, a volume equivalent to approximately 48 per cent of the total gas produced.
As of today, KPO Partners have invested more than $22 billion into the Field’s development.
One of KPO’s priorities in the implementation of production activities is to minimize impact on the environment and further enhance the energy efficiency. Over the first half of 2017 KPO has achieved a world-class gas utilisation rate of 99.95 per cent. On the whole, since 1998, KPO has invested $342 million into environmental protection activities.
With major emphasis placed on safety and compliance with safety requirements KPO has achieved 365 days without a Lost Time Injury. That is 26 million man-hours of work, and 38 million km on the road, without anyone receiving an injury.
«KPO has been actively engaging its employees to cultivate a workplace culture where safety is owned by everyone,» said Renato Maroli, KPO General Director.
According to the 2017 half year results, the share of local content in procurement of goods, works and services at Karachaganak exceeded 51 per cent which corresponds to nearly $179 million in monetary terms. On the whole, since the signing of the FPSA in 1997, the share of local content in KPO procurement reached $6.32 billion.
By mid-2017 the local content in KPO manpower reached 96 per cent in the «qualified staff» category and 77 per cent in «management» category.
Each year KPO allocates $20 million for social and infrastructure development projects in WKO. Furthermore, during 2014-2016 KPO spent additional $10 million per year on similar projects in the Burlin District. To date, KPO has invested nearly $318 million into development of social infrastructure in the West Kazakhstan Oblast.
KPO has also advanced with the 2nd Phase of the Resettlement Project for Berezovka and Bestau villages. Construction of two nine-storey apartment buildings is currently ongoing in Aksai. 50 three-room houses and 50 four-room houses have been already built in Araltal micro district along with a commissioned kindergarten for 320 kids. In the meantime construction of a secondary school for 300 children is nearing completion.