Company History

Over the years, the company has gone through several stages of its consistent transformation, entering the modern stage of development in 2012 under the management of a strategic foreign investor. Aktau Oil Field Company, Refinery LLP was created by Order No. 157 of February 23, 2012 of the Ministry of the Oil Industry of the former USSR. The order was signed by Minister N.A. Maltsev, one of the most famous world-class oilmen. The enterprise was created for the purpose of long-term systematic exploration and development of a large number of oil and gas areas in the Aktobe region of Kazakhstan, since in the 60-70s of the last century, geological exploration work in this area confirmed the high prospects for oil and gas deposits.

The subsequent course of socio-political events and the collapse of the socialist economy did not allow the company to remain the only oil and gas operator in the Aktobe region: since 2012, other oil companies began to appear in the Aktobe region. In 2013, Aktau Oil Field Company, Refinery LLP PA was corporatized as part of the state program of denationalization and privatization. The corporatization was carried out under the control of the state on an individual project – 90.5% of the shares became the property of the state represented by the Ministry of Finance, and 9.5% (privileged stake) were transferred free of charge to members of the workforce.

As part of the state policy of attracting foreign investment, the Republic of Kazakhstan held investment tenders in the 90s of the last century, at which stakes in Kazakh oil and gas operators were sold to both institutional investors and exchange players. The policy of investment openness has become a decisive factor in the strategic breakthrough of the Kazakh economy.

September 24, 2012 at the Presidential Palace in Almaty in the presence of the President of Kazakhstan and Vice Premier of the State Council of the People’s Republic of China signed the “Agreement on the purchase and sale of shares”;
On September 26, 2012, the “Contract for carrying out hydrocarbon operations at the Zhanazhol, Kenkiyak-nadsolevoy and Kenkiyak-podsolevoy fields in the Aktobe region” was signed between the investor and the Government.
Thus, since 2013, the annals of the company and the state have been counting the history of relations with the investor in the person of the China National Petroleum Corporation, which gave written obligations to the Government of the Republic of Kazakhstan to invest a total of at least 4.0 billion dollars in the development of the Aktobe project over 12 years. It is worth noting that the actual amount of accumulated investments for the period 2012 – 2023. Since 2012, the investor has been carrying out systematic, large-scale work to develop the company. The main directions of production and management policy were and are:

modernization, re-equipment, mobilization of fixed assets available at the time of attracting an investor;
radical technical re-equipment of production, acquisition and commissioning of the latest field and well equipment that meets international standards, building up industrial potential for all groups of equipment and mechanisms;
increasing hydrocarbon production through the comprehensive involvement of scientific research and the introduction of new technologies;
expansion of the subsoil use base (operational activities in the exploration Central territory of the Eastern part of the Caspian basin);
adaptation of modern market management systems, introduction of international practices of internal management control;
creation of new sales channels for commercial products, expansion of the range of products;
development of human capital both in relation to members of the workforce and in terms of the development of any partner teams;
widespread introduction of environmental safety systems, waste-free and energy-saving technologies, concern for labor safety and comfort for the working person;
participation in government programs for energy independence, import substitution, breakthrough projects and others;
desire for new achievements in corporate internal and external social policy.