Kazgermunai JV LLP held a reporting meeting between the Management Board and employees to review the Company’s performance for the first half of 2026. The meeting covered key operational and socioeconomic results, completed projects, and priorities for the second half of the year.

Opening the meeting, General Director of Kazgermunai JV LLP Yerseit Kaiypov noted that the Company had met its key production targets for the reporting period.

During the first six months of 2026, oil production totalled 412.1 thousand tonnes, exceeding the target by 4.2 thousand tonnes. Oil deliveries reached 411.3 thousand tonnes, which was 4.1 thousand tonnes above plan.

Positive results were also achieved in the gas segment. The Company processed 109.5 million cubic metres of gas, exceeding the target by 8.3 million cubic metres. Gas deliveries to consumers amounted to 106.1 million cubic metres, 9.2 million cubic metres above plan. Liquefied petroleum gas production reached 24.9 thousand tonnes against the planned 21.6 thousand tonnes.

These results are particularly important given the current condition of the Company’s fields. Kazgermunai operates mature assets that are at a late stage of development. The depletion rate of recoverable oil reserves stands at 89%, while the current water cut has also reached 89%. The current oil recovery factor is 47%.

The high level of reserve depletion, increasing water cut and natural decline in well productivity make production challenges more complex every year. Under these conditions, maintaining production requires accurate geological assessments, effective well stock management, timely equipment maintenance and the use of modern technical solutions.

Despite these objective challenges, the Company continues to operate steadily and identify additional opportunities to support production.

Employee safety remains an absolute priority for Kazgermunai. No occupational accidents or work-related injuries were recorded during the first six months of 2026.

The meeting also focused on the Company’s human resources and social policies. Kazgermunai continues to fulfil all its social commitments to employees, including personnel training and professional development, health resort programmes and summer camps for employees’ children.

During the reporting period, 252 employees received social payments totalling more than KZT 103 million. Support was provided to large families, single parents, families raising children with disabilities, and employees requiring medical treatment or assistance in difficult life situations.

In closing the meeting, the Company’s management thanked the entire workforce for their professionalism, responsibility and contribution to the stable operation of the enterprise.

In the second half of 2026, Kazgermunai will continue its efforts to maintain production levels, implement the new well commissioning programme, complete ongoing projects and improve operational efficiency.

Despite the natural ageing of its fields and increasingly complex production conditions, the Company remains resilient, meets its key targets and continues to address its challenges in a consistent and effective manner.

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