LUKOIL has been operating in the Republic of Kazakhstan since 1995. The company participates and 7 onshore production projects in the Republic of Kazakhstan and Caspian Pipeline Consortium (CPC). LUKOIL is the largest Russian investor in Kazakhstan; since 1995 the company has invested more than $4.7 billion in Republic's economy. The company produces 10% of the total hydrocarbon production in Kazakhstan. The central office is in Astana, and the company has also opened offices in key producing regions. The Tengiz and CPC projects are managed through Lukarco (with LUKOIL Overseas managers representing the company in Tengiz management bodies), while other projects are managed through LUKOIL Overseas.
Date of entering the project: 1995 Project operator: ÀÎ Turgai Petroleum (LUKOIL 50%, CNPC 50%). The field is being developed under a subsoil use contract signed on April 26, 1996. The term of the contract is 25 years.
The Kumkol field is located in the Kyzylorda Oblast, 200 kilometers from the town of Kyzylorda. Recoverable hydrocarbon reserves are about 55 million tons. Production in 2012 was 2.14 million tons of oil (LUKOIL's share was 1.07 million tons) and 222 million cubic meters of gas (LUKOIL's share was 111 million cubic meters). LUKOIL's share in investment from the start of the project has exceeded $600 million. The total number of employees is 675, 100% of whom are Kazakhstan nationals. LUKOIL plans to invest up to $190 million in development of the project till 2020.