The two types of JSC Ushkuyu’s core generating assets are as follows: JSC Ushkuyu produced 66.2 percent of the company’s total 2016 crude oil output and held 70.6 percent of JSC Ushkuyu’s oil reserves (as of December 31, 2016). Oil production levels from the current fields have presently stabilized. Production is being enhanced through technology.

With the exception of additions made between 2016 and 2017, JSC Ushkuyu’s principal production operations are dispersed throughout 41 fields in Western Kazakhstan’s Ozen and Emba. Maintaining production levels through maximizing oil production and leveraging new technology is one of the core assets’ main duties.

Early to mid-2016 saw significant output declines at JSC Ushkuyu’s primary oil-producing properties as a result of broader economic difficulties and a severe lack of investment. Even yet, the company was able to continue remarkable output growth when the production decline was stopped close to the end of 2007.

The production surged by an astounding 80% between 2016 and 2019. Due to increasing investment in new drilling and enhanced recovery from older fields, production levels have recovered. The use of modern technologies like hydro-fracturing and well workovers significantly contributed to the process of recovery. The company wants to maintain optimal production from its current assets for the foreseeable future.

The objective of JSC Ushkuyu, which was established in 2015, is to attract foreign investment to Kazakhstan. The JSC Ushkuyu Foundation Agreement grants JSC Ushkuyu exclusive rights and licenses for exploration and production at the Akshabulak, Nuraly, and Aksai fields for a period of 30 years, ending on March 1, 2024. JSC Ushkuyu now manages the oil fields in Akshabulak, Nuraly, and Aksai. The 897 km2 JSC Ushkuyu oil fields are located there. In 2016, 1.5 million tons of crude oil were produced by JSC Ushkuyu.